Ethereum, Litecoin, and Ripple’s XRP – Daily Analysis

Ethereum, Litecoin, and Ripple’s XRP – Daily Analysis

By FX Empire | FX Empire | 31 Oct 2021


After another bullish day for the majors on Friday, avoiding the day’s pivot levels would be key to maintain the upward momentum. Ethereum Crypto Currency Market

Ethereum

Ethereum rose by 3.01% on Friday. Following a 9.25% breakout on Thursday, Ethereum ended the day at $4,421.23.

 

A mixed start saw Ethereum fall to an early morning intraday low $4,266.91 before making a move.

Steering clear of the first major support level at $4,026, Ethereum rallied to a late afternoon intraday high and a new ATH $4,461.96.

Ethereum broke through the first major resistance level at $4,425 before easing back to end the day at $4,421 levels.

At the time of writing, Ethereum was down by 0.25% to $4,410.38. A mixed start to the day saw Ethereum rise to an early morning high $4,435.00 before falling to a low $4,408.58.

Ethereum left the major support and resistance levels untested early on.

 

 

For the day ahead

Ethereum would need to avoid the $4,383 pivot to bring the first major resistance level at $4,500 into play.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s ATH $4,461.96.

Barring an extended crypto rally, the first major resistance level would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $4,650 levels before any pullback. The second major resistance level sits at $4,578.

A fall through the $4,383 pivot would bring the first major support level at $4,305 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,100 levels. The second major support level at $4,188 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,305

Pivot Level: $4,383

First Major Resistance Level: $4,500

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

 

Litecoin

Litecoin rose by 3.55% on Friday. Following a 5.92% rally on Thursday. Partially, Litecoin ended the day at $196.69.

A bearish start to the day saw Litecoin fall to an early morning intraday low $188.32 before making a move.

Steering clear of the first major support level at $180, Litecoin rallied to a late intraday high $198.73.

Litecoin broke through the first major resistance level at $197 before a fall back to end the day at $196 levels.

At the time of writing, Litecoin was down by 0.18% to $196.34. A mixed start to thre day saw Litecoin rise to an early morning high $197.38 before falling to a low $196.17.

Litecoin left the major support and resistance levels untested early on.

 

 

For the day ahead

Litecoin would need to avoid the $195 pivot to bring the first major resistance level at $201 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $200 levels.

Barring an extended crypto rally, the first major resistance level would likely cap the upside.

In the event of another breakout, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $205.

A fall through the $195 pivot would bring the first major support level at $190 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$180. The second major support level at $184 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $190

Pivot Level: $195

First Major Resistance Level: $201

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 2.05% on Friday. Following a 6.19% rally on Thursday, Ripple’s XRP ended the day at $1.08098.

After a mixed start, Ripple’s XRP fell to a late morning intraday low $1.05411 before making a move.

While steering clear of the first major support level at $0.9999, Ripple’s XRP briefly fell through the 38.2% FIB of $1.0659.

Finding late morning support, however, Ripple’s XRP rose to a late intraday high $1.08998.

While breaking back through the 38.2% FIB, Ripple’s XRP fell short of the first major resistance level at $1.0984.

Coming up against resistance at $1.09, Ripple’s XRP eased back to end the day at sub-$1.0810 levels.

At the time of writing, Ripple’s XRP was down by 0.21% to $1.07870. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.08350 before falling to a low $1.07795.

Ripple’s XRP left the major support and resistance levels untested early on.

 

 

For the day ahead

Ripple’s XRP would need to avoid the $1.0750 pivot to bring the first major resistance level at $1.0959 into play.

Support would be needed, however, for Ripple’s XRP to break back through to $1.09 levels.

Barring an extended crypto rally, the first major resistance level would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.12 levels before any pullback. The second major resistance level sits at $1.1109.

A fall through the $1.0750 pivot would bring the 38.2% FIB of $1.0659 and the first major support level at $1.0601 into play.

Barring another extended sell-off, however, Ripple’s XRP should avoid sub-$1.02 levels. The second major support level at $1.0392 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1.0601

Pivot Level: $1.0750

First Major resistance Level: $1.0959

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

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