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Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 2nd, 2021

Ethereum

Ethereum jumped by 10.33% on Friday. Following a 5.29% rally on Thursday, Ethereum ended the day at $3,311.16

A mixed start to the day saw Ethereum fall to an early morning intraday low $2,967.41 before making a move.

Steering clear of the first major support level at $2,875, Ethereum rallied to a late intraday high $3,337.15.

Ethereum broke through the first major resistance level at $3,087 and the second major resistance level at $3,174.

Coming within range of the 23.6% FIB of $3,369, however, Bitcoin eased back to end the day at sub-$3,320 levels.

At the time of writing, Ethereum was up by 0.11% to $3,314.77. A mixed start to the day saw Ethereum fall to an early low $3,307.79 before rising to a high $3,320.74.

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

ETHUSD 021021 Hourly Chart

For the day ahead

Ethereum would need to avoid the $3,205 pivot to bring the 23.6% FIB of $3,369 and the first major resistance level at $3,443 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,400 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, Ethereum could test resistance at $3,600 before any pullback. The second major resistance level sits at $3,575.

A fall through the $3,205 pivot would bring the first major support level at $3,073 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $2,836.

Looking at the Technical Indicators

First Major Support Level: $3,073

Pivot Level: $3,205

First Major Resistance Level: $3,443

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rallied by 8.42% on Friday. Following a 5.90% gain on Thursday, Litecoin ended the day at $166.23.

A mixed start to the day saw Litecoin fall to an early morning intraday low $151.09 before making a move.

Steering clear of the first major support level at $147, Litecoin rallied to a late intraday high $168.16.

Litecoin broke through the first major resistance level at $157 and the second major resistance level at $161 to end the day at $166 levels.

At the time of writing, Litecoin was up by 0.05% to $166.31. A range-bound start to the day saw Litecoin fall to an early morning low $166.15 before rising to a high $166.58.

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

LTCUSD 021021 Hourly Chart

For the day ahead

Litecoin would need to avoid the $162 pivot to bring the first major resistance level at $173 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $170 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 the 23.6% FIB of $178 and the second major resistance level at $179.

A fall through the $162 pivot would bring the first major support level at $156 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$150. The second major support level sits at $145.

Looking at the Technical Indicators

First Major Support Level: $156

Pivot Level: $162

First Major Resistance Level: $173

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 9.29% on Friday. Following a 2.97% gain on Thursday, Ripple’s XRP ended the day at $1.04247.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.94486 before making a move.

Steering clear of the first major support level at $0.9298, Ripple’s XRP rallied to a late intraday high $1.0700.

Ripple’s XRP broke through the day’s major resistance levels and the 23.6% FIB of $1.0659 before ending the day at $1.04 levels.

The third major resistance level at $1.0262 delivered support late in the day.

At the time of writing, Ripple’s XRP was down by 0.09% to $1.0415. A mixed start to the day saw Ripple’s XRP rise to an early high $1.04256 before falling to a low $1.04150.

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

XRPUSD 021021 Hourly Chart

For the day ahead

Ripple’s XRP would need to avoid the $1.0191 pivot to bring 23.6% FIB of $1.0659 and the first major resistance level at $1.0934 into play.

Support would be needed, however, for Ripple’s XRP to break out from Friday’s high $1.0700.

Barring an extended crypto rally, the first major resistance level and resistance at $1.10 would likely cap the upside.

In the event of a broad-based crypto rally, Ripple’s XRP could test resistance at $1.20 before any pullback. The second major resistance level sits at $1.1443.

A fall through $1.0191 pivot would bring the first major support level at $0.9682 into play.

Barring an extended sell-off, however, Ripple’s XRP should avoid sub-$0.95 levels. The second major support level sits at $0.8940.

Looking at the Technical Indicators

First Major Support Level: $0.9682

Pivot Level: $1.0191

First Major resistance Level: $1.0934

23.6% FIB Retracement Level: $0.8533

38.2% FIB Retracement Level: $1.0659

62% FIB Retracement Level: $1.4096

Please let us know what you think in the comments below.

Thanks, Bob