Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 12th, 2021

By October 12, 2021Ethereum
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Ethereum

Ethereum rose by 3.74% on Monday. Partially reversing a 4.48% slide from Sunday, Ethereum ended the day at $3,542.37.

A mixed start to the day saw Ethereum slide to an early morning intraday low $3,373.45 before making a move.

Steering clear of the 23.6% FIB of $3,369 and the first major support level at $3,346, Ethereum rallied to a late morning intraday high $3,625.0.

Ethereum broke through 23.6% FIB and the first major resistance level at $3,545.

A late pullback saw Ethereum fall back through the first major resistance level to end the day at $3,542 levels.

At the time of writing, Ethereum was down by 0.42% to $3,527.35. A mixed start to the day saw Ethereum rise to an early morning high $3,543.21 before falling to a low $3,516.69.

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

For the day ahead

Ethereum would need to avoid the $3,514 pivot to bring the first major resistance level at $3,654 play.

Support from the broader market would be needed, however, for Ethereum to break back through to $3,600 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $3,625.00 would likely cap the upside.

In the event of a broad-based crypto rally, Ethereum could test resistance at $3,800 before any pullback. The second major resistance level sits at $3,765.

A fall through the $3,514 pivot would bring the first major support level at $3,402 and the 23.6% FIB of $3,369 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$3,300 levels. The second major support level sits at $3,262.

Looking at the Technical Indicators

First Major Support Level: $3,402

Pivot Level: $3,514

First Major Resistance Level: $3,654

23.6% FIB Retracement Level: $3,369

38.2% FIB Retracement Level: $2,740

62% FIB Retracement Level: $1,725

Litecoin

Litecoin rose by 2.53% on Monday. Partially reversing a 2.82% fall from Sunday, Litecoin ended the day at $179.20.

A mixed start to the day saw Litecoin slide to an early morning intraday low $172.41 before making a move.

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