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For the day ahead
Litecoin is expected to break out of the $ 58.24 pivot to support a run at the first major resistance level at $ 59.36.
However, support from the broader market would be needed for Litecoin to return to $ 59 levels.
Barring an extended cryptocurrency rally, the first major resistance and resistance level at $ 60 would likely limit any upside.
In the event of a sustained breakout, Litecoin would likely test resistance at $ 61 before any pullback. The second major resistance level is found at $ 60.75.
Failure to break out of the $ 58.24 rotation level would bring the first major support level at $ 56.85 into play.
Barring another extended sell-off later in the day, however, Litecoin is expected to avoid the 23.6% FIB of $ 54.00. The second major support level at $ 55.73 should limit any downside.
Looking at the technical indicators
First major support level: $ 56.85
Pivot Level: $ 58.24
First major resistance level: $ 59.36
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 1.41% on Tuesday. Reversing a 1.23% decline from Monday, Ripple’s XRP ended the day at $ 0.25409.
A mixed start to the day saw Ripple’s XRP drop to a morning intraday low $ 0.24823 before making a move.
Avoiding the first major support level at $ 0.2456, Ripple’s XRP rose to a late morning intraday high $ 0.26462.
Ripple’s XRP broke through the first major resistance level at $ 0.2558 and the second major resistance level at $ 0.2610.
A late morning reversal, however, saw Ripple’s XRP return to $ 0.256 levels in the afternoon.
In the 2nd Mid-day, Ripple’s XRP broke through the first major resistance level before ending the day at $ 0.254.
At the time of writing, Ripple’s XRP was down 0.37% to $ 0.25314. A mixed start to the day saw Ripple’s XRP rise to a morning high of $ 0.25451 before falling to a low of $ 0.25274.
Ripple’s XRP left the major support and resistance levels untested early on.
