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Ethereum, Litecoin, & Ripple’s XRP Technical Analysis – 14th Oct

Bullish momentum is on the rise, but volumes are still low

Last Updated October 14th 2021
5 Min Read

Ethereum

Ethereum had a volatile day on Wednesday but closed the day higher by 2%.

It started the day bullish after bears’ attempt to push it through the 38.2% Fibonacci support at 3399.42 was rejected in late Tuesday trading.

By the third hour of the day, bulls had pushed Ethereum through the 23.6% Fibonacci resistance at $3503.00.

However, they failed to sustain Ethereum through this resistance level without much support from the broader market.

What followed is that bears took control, and by the mid-morning, Ethereum was close to testing the 38.2% Fibonacci support at $3399.42.

However, bears lacked the momentum to push Ethereum to this support level for the second time in under 24-hours.

A bullish reversal followed that saw Ethereum blast through the 23.6% Fibonacci resistance in the early evening.

Breaking this resistance energized bulls and saw buying volumes rise towards the end of the day.

Ethereum started Thursday trading with the bullish momentum that it had built up in late Wednesday trading.

At the time of going to press, it was gaining upside momentum but was yet to test the $3668.72 multi-month resistance.

ETH/USD 1-hour chart 101421

A glance at the day ahead

The key levels to watch in the day are the 23.6% Fibonacci support at $3503.00, and the $3668.72 multi-month resistance.

If bulls take control and push Ethereum through the $3503 multi-month resistance in the day, there is a good chance that it could test $4000 in the day.

On the other hand, if bears take control and push Ethereum through the 23.6% Fibonacci support at $3503.00, the next key level to watch would be the 38.2% Fibonacci support at $3399.42.

If this support is broken, then prices below $3300 could be seen in the day.

However, if volumes drop in the day, Ethereum could trade in a range between the multi-month resistance at $3668.72 and the 23.6% Fibonacci support at $3503.00.

A glance at the technicals

Key resistance: Multi-month resistance at $3668.72

Key support: 23.6% Fibonacci at $3503.00

Litecoin

Litecoin was quite volatile on Wednesday but closed the day higher by 1.8%.

Litecoin started the day bullish after pushing through the 38.2% Fibonacci resistance at $170.76 in late Tuesday trading.

However, bulls failed to sustain momentum above this resistance level without much support from the broader market.

What followed is that bears took control, and by daybreak, had pushed Litecoin through the 38.2% Fibonacci, now support at $170.76.

However, bears lacked the momentum to push Litecoin lower towards the 50.0% Fibonacci support at $165.80.

A bullish reversal followed, which saw it break back through the 38.2% Fibonacci resistance in the early afternoon.

This pullback energized bulls and saw buying volumes rise all through the afternoon.

By late afternoon, Litecoin had tested and pushed through the 23.6% Fibonacci resistance at $176.87. 

However, this move was quickly rejected, and within an hour, Litecoin was trading back at 170.76 on the 38.2% Fibonacci support.

But with bullish momentum rising in the broader market, Litecoin bears quickly lost momentum.  From that point on, Bulls took control until the end of the day when Litecoin was back at the 23.6% Fibonacci resistance.

Litecoin started Thursday trading with the bullish momentum that it had built up in late Wednesday trading.

At the time of going to press, it was gaining upside momentum and had pushed through the 23.6% Fibonacci resistance at $176.87.

LTC/USD 1-hour chart 101421

A glance at the day ahead

In the day, the key levels to watch are the 23.6% Fibonacci, now support at $176.87, and the $186.88 multi-month resistance.

If in the day bulls take control and push Litecoin through the $186.88 multi-month resistance, there is a good chance that it could test $200 in the day.

On the other hand, if bears take control and push Litecoin through the 23.6% Fibonacci support at $176.87, the next key level to watch would be the 38.2% Fibonacci support at $170.76.

 If this support is broken, then prices below $170 could be seen in the day.

However, if volumes drop in the day, Litecoin could trade in a range between the multi-month resistance at $186.88 and the 23.6% Fibonacci support at $176.87.

A glance at the technicals

Key resistance: Multi-month resistance at $186.88

Key support: 23.6% Fibonacci at $176.87

Ripple’s XRP

On Wednesday, Ripple’s XRP had a pretty directionless day but still closed the day slightly higher than its opening price. It was up by 1.98% at the end of the day.

XRP started the day bullish after it bounced off the 50.0% Fibonacci support at $1.0752 in late Tuesday trading.

By the third hour of the day, bulls had pushed XRP through the 38.2% Fibonacci resistance at $1.1117.

However, bulls failed to sustain XRP through this resistance level without much support from the broader market.

What followed is that bears took control, and by daybreak, XRP had crashed back through the 38.2% Fibonacci.

Bearish momentum sustained until mid-morning when XRP hit the 50.0% Fibonacci support at $1.0752.

Without support from the broader market, bears could not push XRP through this support level.

A bullish reversal followed that saw XRP retest the 38.2% Fibonacci resistance in the early evening.

However, bulls lost momentum after hitting this resistance. This saw XRP trade in a range for the rest of the evening.

XRP started Thursday trading with the bullish momentum that it had built up on Wednesday.

At the time of going to press, it had pushed through the 38.2% Fibonacci resistance and was gaining momentum. 

XRP/USD 1-hour chart 101421

A glance at the day ahead

The key levels to watch in the day are the 23.6% Fibonacci resistance at $1.1565 and the 38.2% Fibonacci support at $1.1117.

If in the day bulls take control and push XRP through the 23.6% Fibonacci resistance at $1.1565, there is a good chance that it could test $1.20 in the day.

On the other hand, if bears take control and push XRP through the 38.2% Fibonacci support at $1.1117, the next key level to watch would be the 50.0% Fibonacci support at $1.0752.

If this support is broken, then prices below $1.05 could be seen in the day.

However, if volumes drop in the day, XRP could trade in a range between the 23.6% Fibonacci resistance at $1.1565 and the 38.2% Fibonacci support at $1.1117.

A glance at the technicals

Key resistance: 23.6% Fibonacci at $1.1565

Key support: 38.2% Fibonacci at $1.1117

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