For the day ahead
Litecoin would need to move through the $180 pivot to bring the first major resistance level at $186 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $185 levels
Barring an extended crypto rally, the first major resistance level and Thursday’s high $187.03 would likely cap the upside.
In the event of another breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $193.
Failure to move through the $180 pivot would bring the 23.6% FIB of $178 and the first major support level at $172 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$165. The second major support level at $166 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $172
Pivot Level: $180
First Major Resistance Level: $186
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP fell by 0.78% on Thursday. Following a 0.38% decline on Wednesday, Ripple’s XRP ended the day at $1.0675.
A mixed start to the day saw Ripple’s XRP slide to an early morning intraday low $1.04453 before making a move.
While steering clear of the first major support level at $1.0295, Ripple’s XRP fell through the 38.2% FIB of $1.0659.
Finding early morning support, however, Ripple’s XRP rallied to a late morning intraday high $1.0939 before a 2nd pullback.
While breaking back through the 38.2% FIB, Ripple’s XRP came up short of the first major resistance level at $1.1185.
The 2nd pullback saw Ripple’s XRP fall back through the 38.2% FIB of 1.0659 before ending the day at $1.067 levels.
At the time of writing, Ripple’s XRP was up by 0.33% to $1.07106. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.06879 to a high $1.07106.
Ripple’s XRP left the major support and resistance levels untested early on.
This news is republished from another source. You can check the original article here
Be the first to comment