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For the day ahead
Litecoin should slide back through the $ 69.35 pivot to support a run at the first major resistance level at $ 73.43.
However, support from the broader market would be needed for Litecoin to exceed the 38.2% FIB of $ 71.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of a sustained breakout, Litecoin will likely test the second major resistance level at $ 77.65.
Failure to return to the pivot level of $ 69.35 would bring the first major support level at $ 65.13 into play.
Barring another extended sell-off later in the day, however, Litecoin should avoid the sub $ 60 levels. The second major support level at $ 61.05 should limit any downside.
Looking at the technical indicators
First major support level: $ 65.13
Pivot Level: $ 69.35
First major resistance level: $ 73.43
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 4.64% on Friday. Partially reversing Thursday’s 14.78% drop, Ripple’s XRP ended the day at $ 0.56192.
It was another mixed start to the day. Ripple’s XRP rose to a morning intraday high $ 0.5880 before reversing.
Failing to hit the first major resistance level at $ 0.6409, Ripple’s XRP eased to a morning intraday low $ 0.49552.
While moving away from the first major support level at $ 0.4441, Ripple’s XRP fell through 38.2% FIB of $ 0.5285.
Find support by going to 2nd Mid-day, Ripple’s XRP plunged back to $ 0.56 levels to end the day on a positive note.
The recovery saw Ripple’s XRP break 38.2% FIB of $ 0.5285.
At the time of writing, Ripple’s XRP was down by 0.63% to $ 0.55837. A mixed start to the day saw Ripple’s XRP rise to a morning high $ 0.56872 before falling to a low $ 0.55641.
Ripple’s XRP left the major support and resistance levels untested at the start.
