Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 4th, 2021

Fibo Quantum

For the day ahead

Litecoin would need to move through the $171 pivot to bring the first major resistance level at $175 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $174.99.

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 $180.

Failure to move through the $171 pivot would bring the first major support level at $166 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$160. The second major support level at $161 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $166

Pivot Level: $171

First Major Resistance Level: $175

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 1.76% on Sunday. Reversing a 0.37% decline from Saturday, Ripple’s XRP ended the week up by 11.74% to $1.05524.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.02249 before making a move.

Steering clear of the first major support level at $1.0074, Ripple’s XRP rallied to a late intraday high $1.08920.

Ripple’s XRP broke through the 38.2% FIB of $1.0659 and the first major resistance level at $1.0707.

A late pullback, however, saw Ripple’s XRP fall back through the first major resistance level and the 38.2% FIB before ending the day at sub-$1.06 levels.

At the time of writing, Ripple’s XRP was down by 0.08% to $1.05438. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.05542 before falling to a low $1.05438.

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

Wood Profits Banner>