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For the day ahead
Litecoin should avoid a fall through the $ 73.00 pivot to support a run at the first major resistance level at $ 77.66.
However, support from the broader market would be needed for Litecoin to break out of Wednesday’s high of $ 77.18.
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 $ 81.84.
Failure to avoid a fall through the pivot level of $ 73.00 would bring into play the 38.2% FIB of $ 71 and the first major support level at $ 68.82.
Barring another extended sell-off later in the day, however, Litecoin should avoid below $ 68. The second major support level is at $ 64.16.
Looking at the technical indicators
First major support level: $ 68.82
Pivot level: $ 73.00
First major resistance level: $ 77.66
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 3.01% on Wednesday. Partially reversing a 5.08% gain from Tuesday, Ripple’s XRP ended the day at $ 0.29366.
It was a mixed start to the day. Ripple’s XRP rose to a morning intraday high $ 0.30820 before reversing.
Failing to hit the first major resistance level at $ 0.3096, Ripple’s XRP slid to a mid-morning intraday low $ 0.28049.
Ripple’s XRP broke through the first major support level at $ 0.2918 before a late recovery to $ 0.29.
On the back of the late support, Ripple’s XRP broke through the first major support level at $ 0.2918.
At the time of writing, Ripple’s XRP was down by 0.61% to $ 0.29186. A mixed start to the day saw Ripple’s XRP rise to a morning high $ 0.29431 before falling to a low $ 0.29007.
Ripple’s XRP left the major support and resistance levels untested early on.
