For the day ahead
Litecoin would need to avoid a fall through the $148.20 pivot level and the 23.6% FIB of $148 to support a run at the first major resistance level at $157.87.
Support from the broader market would be needed, however, for Litecoin to break out from $155 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $170. The second major resistance level sits at $165.97.
Failure to avoid a fall through the $148.20 pivot level and the 23.6% FIB of $148 would bring the first major support level at $140.10 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $130.43.
Looking at the Technical Indicators
First Major Support Level: $140.10
Pivot Level: $148.20
First Major Resistance Level: $157.87
23.6% FIB Retracement Level: $148
38.2% FIB Retracement Level: $125
62% FIB Retracement Level: $87
Ripple’s XRP
Ripple’s XRP rose by 0.40% on Wednesday. Following a 2.87% gain from Tuesday, Ripple’s XRP ended the day at $0.29534.
A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.28235 before making a move.
Steering clear of the major support levels, Ripple’s XRP jumped to a mid-morning intraday high $0.31200.
Falling well short of the first major resistance level at $0.3212, Ripple’s XRP slid to a late morning intraday low $0.28021.
Steering clear of the first major support level at $0.2757, Ripple’s XRP moved back through to $0.295 levels and into the green.
At the time of writing, Ripple’s XRP up by 0.09% to $0.29560. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.29715 before falling to a low $0.29499.
Ripple’s XRP left the major support and resistance levels untested early on.
