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For the day ahead
Litecoin should avoid a fall through the $ 59.75 pivot to support a run at the first major resistance level at $ 61.79.
However, broader market support would be needed for Litecoin to break out of the morning high at $ 61.00.
Barring an extended cryptocurrency rally, the first major resistance level and resistance at $ 62 could likely limit any upside.
In the event of a sustained breakout, Litecoin would likely test resistance at $ 63 before any pullback. The second major resistance level is found at $ 62.85.
Failure to avoid a fall through the pivot level of $ 59.75 would bring the first major support level at $ 58.69 into play.
Barring an extended sell-off later in the day, however, Litecoin is expected to avoid the 23.6% FIB of $ 54.00. The second major support level at $ 56.65 should limit any downside.
Looking at the technical indicators
First major support level: $ 58.69
Pivot Level: $ 59.75
First major resistance level: $ 61.79
23.6% FIB Retracement Level: $ 45.30
38.2% FIB Retracement Level: $ 71
62% FIB Retracement Level: $ 100
Ripple’s XRP
Ripple’s XRP fell 0.45% on Thursday. Partially reversing a 0.71% gain from Wednesday, Ripple’s XRP ended the day at $ 0.25499.
Recovering from a morning low $ 0.25337, Ripple’s XRP hit a morning intraday high $ 0.25829 before reversing.
Failing to hit the first major resistance level at $ 0.2598, Ripple’s XRP slid to a late afternoon intraday low $ 0.25281.
Finding support at the first major support level at $ 0.2526, Ripple’s XRP revisited $ 0.255 levels before easing back.
At the time of writing, Ripple’s XRP was down by 0.08% to $ 0.25479. A mixed start to the day saw Ripple’s XRP rise to a morning high $ 0.25511 before falling to a low $ 0.25479.
Ripple’s XRP left the major support and resistance levels untested early on.
