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For the day ahead
Litecoin is expected to move back through the $ 57.92 pivot to support a run at the first major resistance level at $ 59.32.
However, support from the broader market would be needed for Litecoin to break out of Tuesday’s high of $ 59.10.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of a breakout, Litecoin will likely test the second major resistance level at $ 60.51.
Failure to return to the pivot level of $ 57.92 would bring the first major support level at $ 56.73 into play.
Barring an extended sell-off later in the day, however, Litecoin should avoid sub $ 55 levels. The second major support level at $ 55.33 should limit any downside.
Looking at the technical indicators
First major support level: $ 56.73
Pivot Level: $ 57.92
First major resistance level: $ 59.32
23.6% FIB Retracement Level: $ 45.30
38.2% FIB Retracement Level: $ 71
62% FIB Retracement Level: $ 100
Ripple’s XRP
Ripple’s XRP was up 1.72% on Tuesday. Reversing a 1.87% decline from Monday, Ripple’s XRP ended the day at $ 0.25277.
It was a mixed start to the day. Ripple’s XRP fell to a morning intraday low $ 0.24796 before moving on.
Avoiding the first major support level at $ 0.2420, Ripple’s XRP climbed to a late afternoon intraday high $ 0.25420.
Failing to hit the first major resistance level at $ 0.2570, Ripple’s XRP fell to end the day at $ 0.2520 levels.
At the time of writing, Ripple’s XRP was down by 0.12% to $ 0.25246. A bearish start to the day saw Ripple’s XRP drop from a morning high $ 0.25279 to a low of $ 0.25246.
Ripple’s XRP left the major support and resistance levels untested early on.
