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For the day ahead
Litecoin should avoid a fall through the $ 74.98 pivot to support a run at the first major resistance level at $ 78.47.
However, support from the broader market would be needed for Litecoin to break out of Tuesday’s high of $ 77.04.
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 $ 80 before any pullback. The second major resistance level is found at $ 80.54.
Failure to avoid a fall through the $ 74.98 pivot level would bring into play the first major support level at $ 72.91 and 38.2% FIB of 71.
Barring an extended sell-off later in the day, however, Litecoin should avoid exceeding $ 70. The second major support level is found at $ 69.42.
Looking at the technical indicators
First major support level: $ 72.91
Pivot Level: $ 74.98
First major resistance level: $ 78.47
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 5.08% on Tuesday. After a breakout of 7.03% on Monday, Ripple’s XRP ended the day at $ 0.30278.
It was a mixed start to the day. Ripple’s XRP fell to a morning intraday low $ 0.28771 before moving on.
Avoiding the first major support level at $ 0.2739, Ripple’s XRP rose to a mid-day intraday high $ 0.30550.
Ripple’s XRP broke through the first major resistance level at $ 0.2962 and the second major resistance level at $ 0.3041.
Bearish in the afternoon, however, Ripple’s XRP dipped to levels below $ 0.30 before ending the day at $ 0.0302.
The second major resistance level locked Ripple’s XRP towards the end of the day.
At the time of writing, Ripple’s XRP was up 0.90% to $ 0.30550. A bullish start to the day saw Ripple’s XRP rise from a morning low $ 0.30277 to a high of $ 0.30550.
Ripple’s XRP left the major support and resistance levels untested early on.
