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For the day ahead
Litecoin should avoid a fall through the $ 78.89 pivot to support a run at the first major resistance level at $ 86.25.
However, support from the broader market would be needed for Litecoin to break out of Thursday’s high of $ 83.50.
Barring another extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of another sustained breakout, Litecoin would likely test resistance at $ 90 before any pullback. The second major resistance level is found at $ 90.86.
Failure to avoid a downside through the pivot level of $ 78.89 would bring the first major support level at $ 74.28 into play.
Barring another extended sell-off later in the day, however, Litecoin should avoid exceeding $ 70. The 38.2% FIB of $ 71 should limit any downside.
Looking at the technical indicators
First major support level: $ 74.28
Pivot Level: $ 78.89
First major resistance level: $ 86.25
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 3.42% on Thursday. Reversing Wednesday’s 3.01% decline, Ripple’s XRP ended the day at $ 0.30386.
It was a mixed start to the day. Ripple’s XRP climbed to a morning high $ 0.2963 before reversing.
Failing to hit the first major resistance level at $ 0.3077, Ripple’s XRP slid to a morning intraday low $ 0.28424.
Avoiding the first major support level at $ 0.2800, however, Ripple’s XRP rose to an intraday high $ 0.30694.
Upon entering the range of the first major resistance level at $ 0.3077, Ripple’s XRP broke below $ 0.30 before finding support.
A late recovery saw Ripple’s XRP return to $ 0.30 levels to provide the upside for the day.
At the time of writing, Ripple’s XRP was down by 0.10% to $ 0.30356. A mixed start to the day saw Ripple’s XRP drop to a morning low of $ 0.30193 before climbing to a high of $ 0.30413.
Ripple’s XRP left the major support and resistance levels untested early on.
