For the day ahead
Litecoin would need to move through the $140 pivot level and the 23.6% FIB of $148 to support a run at the first major resistance level at $170.
Support from the broader market would be needed, however, for Litecoin to break back through to $160 levels.
Barring an extended crypto rally, the 23.6% FIB of $148 and resistance at $150 would likely leave Litecoin short of the first major resistance level.
In the event of an extended breakout, the first major resistance level would likely cap any upside. The second major resistance level sits at $200.
Failure to move through the $140 pivot level would bring the 38.2% FIB of $125 and the first major support level at $110 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$100 levels and the 62% FIB of $87. The second major support level sits at $81.
Looking at the Technical Indicators
First Major Support Level: $110
Pivot Level: $140
First Major Resistance Level: $170
23.6% FIB Retracement Level: $148
38.2% FIB Retracement Level: $125
62% FIB Retracement Level: $87
Ripple’s XRP
Ripple’s XRP slid by 8.63% on Monday. Following on from a 3.16% fall on Sunday Ripple’s XRP ended the day at $0.28781.
It was a bearish start to the day. Ripple’s XRP fell from an early morning intraday high $0.31592 to an early morning intraday low $0.25333.
The sell-off saw Ripple’s XRP fall through the first major support level at $0.2782 before revising $0.299 levels.
A 2nd reversal saw Ripple’s XRP slide back through the first major support level to a late afternoon low $0.25781.
Finding support late in the day, however, Ripple’s XRP moved back through the first major support level to wrap up the day at $0.28 levels.
At the time of writing, Ripple’s XRP was down by 2.11% to $0.28175. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.28925 before falling to a low $0.27945.
Ripple’s XRP left the major support and resistance levels untested early on.
