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For the day ahead
Litecoin is expected to break out of the $ 47.72 pivot to support a run at the first major resistance level at $ 49.81.
However, support from the broader market would be needed for Litecoin to return to $ 49 levels.
Barring an extended cryptocurrency rally, the first major resistance level and Friday’s high of $ 49.9 would likely limit any upside.
In the event of another breakout, Litecoin would likely test resistance at $ 51 before any pullback. The second major resistance level is found at $ 51.98.
Failure to break out of the $ 47.72 rotation level would bring the first major support level at $ 45.55 into play.
Barring another extended sell off later in the day, however, Litecoin should avoid the second major support level at $ 43.46.
Looking at the technical indicators
First major support level: $ 45.55
Pivot Level: $ 47.72
First major resistance level: $ 49.81
23.6% FIB Retracement Level: $ 45.30
38.2% FIB Retracement Level: $ 71
62% FIB Retracement Level: $ 100
Ripple’s XRP
Ripple’s XRP fell 2.31% on Friday. After a 1.23% decline on Thursday, Ripple’s XRP ended the day at $ 0.24017.
Following the broader market, Ripple’s XRP climbed to a morning intraday high $ 0.24797 before reversing.
Failing to hit the first major resistance level at $ 0.2499, Ripple’s XRP slid to a morning intraday low $ 0.23783.
Ripple’s XRP broke through the first major support level $ 0.2425 and the second major support level $ 0.2391.
Finding support in the late morning, Ripple’s XRP briefly revisited $ 0.2426 levels before easing back.
The first major support level at $ 0.2425 stalled Ripple’s XRP later in the day.
At the time of writing, Ripple’s XRP was flat at $ 0.24024, with no movement at the start of the day.
