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For the day ahead
Litecoin is expected to move back through the $ 88.66 pivot to support a run at the first major resistance level at $ 91.79.
However, support from the broader market would be needed for Litecoin to break out of Thursday’s high of $ 91.35.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of another sustained breakout, Litecoin could test the second major resistance level at $ 94.47.
Failure to return to the pivot level of $ 88.66 would bring the first major support level at $ 85.98 into play.
Barring a prolonged sell-off later in the day, however, Litecoin should avoid sub $ 80 levels. The second major support level at $ 82.85 should limit the downside.
Looking at the technical indicators
First major support level: $ 85.98
Pivot Level: $ 88.66
First major resistance level: $ 91.79
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 0.19% on Thursday. After a 3.18% gain on Wednesday, Ripple’s XRP ended the day at $ 0.63098.
A bearish start to the day saw Ripple’s XRP drop to a morning intraday low $ 0.61447 before moving on.
While avoiding the first major support level at $ 0.6060, Ripple’s XRP fell through the 23.6% FIB of $ 0.6274.
Finding support in the late morning, however, Ripple’s XRP rose to an afternoon intraday high $ 0.64249.
While breaking out of the 23.6% FIB, Ripple’s XRP broke through the first major resistance level at $ 0.6434.
A late drop saw Ripple’s XRP roll back through the 23.6% FIB of $ 0.6274 before ending the day at $ 0.63 levels.
At the time of writing, Ripple’s XRP was down 0.31% to $ 0.62903. A mixed start to the day saw Ripple’s XRP rise to a morning high $ 0.62991 before falling to a low $ 0.62820.
Ripple’s XRP left major support and resistance levels untested at the start.
