For the day ahead
Litecoin would need to avoid a fall through the $75.95 pivot to support a run at the first major resistance level at $79.74.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $78.24.
Barring an extended crypto rally, the first major resistance level and resistance at $80 would likely cap any upside.
In the event of an extended breakout, Litecoin could test the second major resistance level at $82.04 and resistance at $85.
A fall through the $75.95 pivot level would bring the first major support level at $73.65 into play.
Barring another extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $69.86. The 38.2% FIB of $71 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $73.65
Pivot Level: $75.95
First Major Resistance Level: $79.74
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 4.42% on Wednesday. Partially reversing an 8.17% slide from Tuesday, Ripple’s XRP ended the day at $0.58313.
Tracking the broader market, Ripple’s XRP slid to a late morning intraday low $0.5028 before making a move.
The sell-off saw Ripple’s XRP fall through the first major support level at $0.5357 and the second major support level at $0.5125.
More significantly, Ripple’s XRP also fell through the 38.2% FIB before bouncing back to a late intraday high $0.60527.
Breaking back through the 38.2% FIB and support levels, Ripple’s XRP broke through the first major resistance level at $0.5963.
A late pullback, however, saw Ripple’s XRP fall to sub-$0.60 levels to limit the upside on the day.
At the time of writing, Ripple’s XRP was down by 0.68% to $0.57914. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.58727 before falling to a low $0.57813.
Ripple’s XRP left the major support and resistance levels untested early on.