Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 26th, 2020

Ethereum

Ethereum fell by 1.48% on Sunday. Reversing a 0.74% gain from Saturday, Ethereum ended the week up by 7.37% to $406.46.

A bullish start to the day saw Ethereum rise to an early morning intraday high $417.86 before hitting reverse.

Ethereum broke through the first major resistance level at $417.25 before sliding to a late afternoon intraday low $402.92.

Falling through the first major support level at $407.65, Ethereum found support to wrap up the day at $406 levels.

The second major support level at $402.73 limited the downside on the day.

At the time of writing, Ethereum was down by 0.37% to $404.94. A bearish start to the day saw Ethereum fall from an early morning high $406.60 to a low $404.34.

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

For the day ahead

Ethereum would need to move through the $409.08 pivot to support a run at the first major resistance level at $415.24.

Support from the broader market would be needed, however, for Ethereum to break back through to $415 levels.

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

In the event of a breakout, Ethereum could test resistance at $420 before any pullback. The second major resistance level sits at $424.02.

Failure to move through the $409.08 pivot would bring the first major support level at $400.30 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level sits at $394.14.

Looking at the Technical Indicators

First Major Support Level: $400.30

Pivot Level: $409.08

First Major Resistance Level: $415.24

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Litecoin

Litecoin fell by 0.62% on Sunday. Partially reversing a 6.94% rally from Saturday, Litecoin ended the week up by 23.73% to $58.87.

It was a mixed start to the day. Litecoin fell to a late morning intraday low $56.56 before making a move.

Steering clear of the first major support level at $56.25, Litecoin rose to an early afternoon intraday high $59.99.

Falling short of the first major resistance level at $61.01, Litecoin fell back to sub-$59 levels and into the red.

At the time of writing, Litecoin was down by 0.54% to $58.55. A bearish start to the day saw Litecoin fall from an early morning high $58.94 to a low $58.51.

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

http://finance.yahoo.com/

For the day ahead

Litecoin would need to avoid a fall through the $58.47 pivot to support a run at the first major resistance level at $60.39.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $59.99.

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

In the event of a breakout, Litecoin would likely test the second major resistance level at $61.90.

Failure to avoid a fall through the $58.47 pivot level would bring the first major support level at $56.96 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of sub-$55 levels. The second major support level at $55.04 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $56.96

Pivot Level: $58.47

First Major Resistance Level: $60.39

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP fell by 1.20% on Sunday. Reversing a 0.54% gain from Saturday, Ripple’s XRP ended the week up by 4.52% to $0.25323.

It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.25738 before hitting reverse.

Falling short of the first major resistance level at $0.2583, Ripple’s XRP fell to a mid-morning intraday low $0.25151.

Ripple’s XRP fell through the first major support level at $0.2535 before finding support. A recovery to $02530 levels limited the downside on the day. The first major support level pinned Ripple’s XRP back late in the day, however.

At the time of writing, Ripple’s XRP was down by 0.05% to $0.25310. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25341 before falling to a low $0.25309.

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

http://finance.yahoo.com/

For the day ahead

Ripple’s XRP will need to move through the $0.2540 pivot to support a run at the first major resistance level at $0.2566.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from $0.2550 levels.

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

In the event of an extended rally, the second major resistance level at $0.2599 would likely come into play.

Failure to move through the $0.2540 pivot would bring the first major support level at $0.2507 into play.

Barring another extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level sits at $0.2482.

Looking at the Technical Indicators

First Major Support Level: $0.2507

Pivot Level: $0.2540

First Major Resistance Level: $0.2566

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

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

Thanks, Bob

This article was originally posted on FX Empire

More From FXEMPIRE: