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

Fibo Quantum

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.