Unlock stock picks and a broker-level newsfeed that powers Wall Street.
Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 26th, 2021

In This Article:

Ethereum

Ethereum rose by 3.40% on Monday. Reversing a 2.53% loss from Sunday, Ethereum ended the day at $4,220.93.

A mixed start to the day saw Ethereum fall to an early morning intraday low $4,069.22 before making a move.

Steering clear of the first major support level at $3,967, Ethereum rallied to a late afternoon intraday high $4,236.27.

Ethereum broke through the first major resistance level at $4,193 to end the day at $4,200 levels.

At the time of writing, Ethereum was down by 0.29% to $4,208.70. A mixed start to the day saw Ethereum rise to an early morning high $4,227.64 before falling to a low $4,207.44.

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

For the day ahead

Ethereum would need to avoid the $4,176 pivot to bring the first major resistance level at $4,282 play.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $4,236.27.

Barring an extended crypto rally, the first major resistance level and resistance at $4,300 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at May’s all-time high $4,383.4. The second major resistance level sits at $4,343.

A fall through the $4,176 pivot would bring the first major support level at $4,115 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$4,000 levels. The second major support level at $4,008 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $4,115

Pivot Level: $4,176

First Major Resistance Level: $4,282

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.62% on Monday. Partially reversing a 2.99% decline from Sunday, Litecoin ended the day at $195.37.

A mixed start to the day saw Litecoin fall to an early morning intraday low $189.63 before making a move.

Steering clear of the first major support level at $184, Litecoin rallied to a late afternoon intraday high $197.36.

Falling short of the first major resistance level at $199, however, Litecoin fell back to sub-$194 levels before finding late support.

At the time of writing, Litecoin was down by 0.19% to $194.99. A mixed start to the day saw Litecoin rise to an early morning high $195.61 before falling to a low $194.96.

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

For the day ahead

Litecoin would need to avoid the $194 pivot to bring the first major resistance level at $199 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $197.36.