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For the day ahead
Litecoin is expected to break above the $ 86.00 pivot to support a run at the first major resistance level at $ 92.17.
However, support from the broader market would be needed for Litecoin to return to $ 90 levels.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of another extended breakout, Litecoin could test the second major resistance level at $ 99.16 and 62% FIB of $ 100.
Failure to move to the $ 86.00 pivot level would bring the first major support level at $ 79.01 into play.
Barring an extended sell-off later in the day, however, Litecoin should avoid the second major support level at $ 72.84.
Looking at the technical indicators
First major support level: $ 79.01
Pivot level: $ 86.00
First major resistance level: $ 92.17
23.6% FIB Retracement Level: $ 45.30
38.2% FIB Retracement Level: $ 71
62% FIB Retracement Level: $ 100
Ripple’s XRP
Ripple’s XRP slid 8.05% on Tuesday. Partially reversing Monday’s 9.60% rally, Ripple’s XRP ended the day at $ 0.61117.
It was another mixed start to the day. Ripple’s XRP rose to a morning intraday high $ 0.68188 before reversing.
Failing to hit the first major resistance level at $ 0.7024, Ripple’s XRP slid to a mid-day intraday low $ 0.57287.
The sell-off saw Ripple’s XRP fall through the 23.6% FIB and the first major support level at $ 0.6124 before a brief rally to $ 0.65.
Towards the end of the day, however, Ripple’s XRP turned back to end the day at $ 0.61.
The first major support level limited the downside at the end of the day.
At the time of writing, Ripple’s XRP was down 1.04% to $ 0.60484. A bearish start to the day saw Ripple’s XRP fall from a morning high $ 0.61153 to a low $ 0.60484.
Ripple’s XRP left the major support and resistance levels untested early on.
