For the day ahead
Litecoin would need to move back through the $89.80 pivot to support a run at the first major resistance level at $93.59.
Support from the broader market would be needed, however, for Litecoin to break back through to $93 levels.
Barring another extended crypto rally, the first major resistance level and Tuesday’s high $94.05 would likely cap any upside.
In the event of another extended breakout, Litecoin would likely test the second major resistance level at $97.85. The 62% FIB of $100 would likely cap any upside, however.
Failure to move back through the $89.80 pivot level would bring the first major support level at $85.54 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$80 levels. The second major support level at $81.75 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $85.54
Pivot Level: $89.80
First Major Resistance Level: $93.59
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP rallied by 12.39% on Tuesday. Following Monday’s 38.3% surge, Ripple’s XRP ended the day at $0.69401.
It was a bullish start to the day. Ripple’s XRP rallied to an early morning intraday high $0.78716 before hitting reverse.
The rally saw Ripple’s XRP break through the first major resistance level at $0.6804 and the second major resistance level at $0.7438.
More significantly, however, Ripple’s XRP also broke through the 62% FIB of $0.6426 to form a near-term bullish trend.
A late morning pullback saw Ripple’s XRP fall to sub-$0.60 levels before a 2nd half rebound to $0.7490 levels.
Ripple’s XRP broke back through the first and second major resistance levels and the 62% FIB.
A bearish end to the day, however, saw Ripple’s XRP fall back through the second major resistance level.
At the time of writing, Ripple’s XRP was flat at $0.6399. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.70972 before falling to a low $0.68267.
Ripple’s XRP left the major support and resistance levels untested early on.