Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 8th, 2021

Ethereum

Ethereum rose by 0.34% on Thursday. Following a 1.64% achieve on Wednesday, Ethereum ended the day at $3,588.51.

A combined begin to the day noticed Ethereum slide to an early morning intraday low $3,471.52 earlier than making a transfer.

Steering away from the primary main help degree at $3,401, Ethereum rallied to a late intraday excessive $3,655.02.

Falling in need of the primary main resistance degree at $3,691, nonetheless, Ethereum eased again to finish the day at sub-$3,600 ranges.

On the time of writing, Ethereum was down by 0.24% to $3,579.96. A combined begin to the day noticed Ethereum rise to an early morning excessive $3,592.27 earlier than falling to a low $3,576.57.

Ethereum left the main help and resistance ranges untested early on.

For the day forward

Ethereum would wish to keep away from the $3,572 pivot to convey the primary main resistance degree at $3,672 play.

Assist from the broader market can be wanted, nonetheless, for Ethereum to interrupt out from Thursday’s excessive $3,655.02.

Barring an prolonged crypto rally, the primary main resistance degree would seemingly cap the upside.

Within the occasion of a broad-based crypto rally, Ethereum might check resistance at $4,000 earlier than any pullback. The second main resistance degree sits at $3,755.

A fall by way of the $3,572 pivot would convey the primary main help degree at $3,488 into play.

Barring an prolonged sell-off, nonetheless, Ethereum ought to keep away from the 23.6% FIB of $3,369. The second main help degree at $3,388 ought to restrict the draw back.

Trying on the Technical Indicators

First Main Assist Degree: $3,488

Pivot Degree: $3,572

First Main Resistance Degree: $3,672

23.6% FIB Retracement Degree: $3,369

38.2% FIB Retracement Degree: $2,740

62% FIB Retracement Degree: $1,725

Litecoin

Litecoin rose by 0.06% on Thursday. Following a 2.70% rise from Wednesday, Litecoin ended the day at $178.61.

A combined begin to the day noticed Litecoin fall to an early morning intraday low $173.42 earlier than making a transfer.

Whereas steering clear the primary main help degree at $167, Litecoin fell by way of the 23.6% FIB of $178.

Story continues

Discovering early morning help, nonetheless, Litecoin rallied to a late morning intraday excessive $187.03.

Litecoin broke again by way of the 23.6% FIB and broke by way of the primary main resistance degree at $186.

A late morning pullback, nonetheless, noticed Litecoin fall again to $176 ranges earlier than a transfer again by way of the 23.6% FIB.

On the time of writing, Litecoin was down by 0.22% to $178.22. A spread-bound begin to the day noticed Litecoin rise to an early morning excessive $178.93 earlier than falling to a low $178.17.

Litecoin left the main help and resistance ranges untested early on.

For the day forward

Litecoin would wish to maneuver by way of the $180 pivot to convey the primary main resistance degree at $186 into play.

Assist from the broader market can be wanted, nonetheless, for Litecoin to interrupt again by way of to $185 ranges

Barring an prolonged crypto rally, the primary main resistance degree and Thursday’s excessive $187.03 would seemingly cap the upside.

Within the occasion of one other breakout, Litecoin might check resistance at $200 earlier than any pullback. The second main resistance degree sits at $193.

Failure to maneuver by way of the $180 pivot would convey the 23.6% FIB of $178 and the primary main help degree at $172 into play.

Barring an prolonged sell-off, Litecoin ought to keep away from sub-$165. The second main help degree at $166 ought to restrict the draw back.

Trying on the Technical Indicators

First Main Assist Degree: $172

Pivot Degree: $180

First Main Resistance Degree: $186

23.6% FIB Retracement Degree: $178

38.2% FIB Retracement Degree: $223

62% FIB Retracement Degree: $296

Ripple’s XRP

Ripple’s XRP fell by 0.78% on Thursday. Following a 0.38% decline on Wednesday, Ripple’s XRP ended the day at $1.0675.

A combined begin to the day noticed Ripple’s XRP slide to an early morning intraday low $1.04453 earlier than making a transfer.

Whereas steering away from the primary main help degree at $1.0295, Ripple’s XRP fell by way of the 38.2% FIB of $1.0659.

Discovering early morning help, nonetheless, Ripple’s XRP rallied to a late morning intraday excessive $1.0939 earlier than a 2^nd pullback.

Whereas breaking again by way of the 38.2% FIB, Ripple’s XRP got here up in need of the primary main resistance degree at $1.1185.

The two^nd pullback noticed Ripple’s XRP fall again by way of the 38.2% FIB of 1.0659 earlier than ending the day at $1.067 ranges.

On the time of writing, Ripple’s XRP was up by 0.33% to $1.07106. A bullish begin to the day noticed Ripple’s XRP rise from an early morning low $1.06879 to a excessive $1.07106.

Ripple’s XRP left the main help and resistance ranges untested early on.

For the day forward

Ripple’s XRP would wish to keep away from the $1.0687 pivot to convey the primary main resistance degree at $1.0928 into play.

Assist can be wanted, nonetheless, for Ripple’s XRP to interrupt again by way of to $1.09 ranges.

Barring an prolonged crypto rally, the primary main resistance degree and resistance at $1.10 would seemingly cap the upside.

Within the occasion of a broad-based crypto rally, Ripple’s XRP might check resistance at $1.15 ranges. The second main resistance degree sits at $1.1181.

A fall by way of the $1.0687 pivot would convey the 38.2% FIB of $1.0659 and the primary main help degree at $1.0434 into play.

Barring an prolonged sell-off, nonetheless, Ripple’s XRP ought to keep away from sub-$1.00 ranges. The second main help degree at $1.0193 ought to restrict the draw back.

Trying on the Technical Indicators

First Main Assist Degree: $1.0434

Pivot Degree: $1.0687

First Main resistance Degree: $1.0928

23.6% FIB Retracement Degree: $0.8533

38.2% FIB Retracement Degree: $1.0659

62% FIB Retracement Degree: $1.4096

Please tell us what you assume within the feedback beneath.

Thanks, Bob

This article was initially posted on FX Empire

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