Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 12th, 2020


For the day ahead

Litecoin would need to avoid a fall through the $50.15 pivot to support a run at the first major resistance level at $51.58.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $51.25.

Barring an extended crypto rally, Sunday’s high and the first major resistance level would likely cap any upside.

In the event of another breakout, Litecoin would likely test the second major resistance level at $52.69.

Failure to avoid a fall through the $50.15 pivot level would bring the first major support level at $49.04 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $47.61.

Looking at the Technical Indicators

First Major Support Level: $49.04

Pivot Level: $50.15

First Major Resistance Level: $51.58

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 0.54% on Sunday. Following on from a 0.36% gain on Saturday, Ripple’s XRP ended the week up by 3.07% to $0.25549.

It was also a bearish start to the day. Ripple’s XRP fell to an early morning intraday low $0.25354 before making a move.

Steering clear of the first major support level at $0.2513, Ripple’s XRP rose to a late morning intraday high $0.25837.

Ripple’s XRP came up against the first major resistance level at $0.2586 before easing back to sub-$0.0254 levels.

Finding late support, however, Ripple’s XRP moved back through to $0.255 levels to deliver the upside on the day.

At the time of writing, Ripple’s XRP was down by 0.06% to $0.25533. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25571 before falling to a low $0.25533.

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

This article was originally published on FX Empire
Previous Atom Exchange Review | is this a good place to Purchase your Bitcoin and Etherem?
Next Atom Exchange Review | is this a good place to get your ethereum?