For the day ahead
Litecoin would need to move through the $130.16 pivot level to support a run at the first major resistance level at $134.63.
Support from the broader market would be needed, however, for Litecoin to break back through to $130 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $135.21 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $140 before any pullback. The second major resistance level sits at $139.67.
Failure to move through the $130.16 pivot level would bring the first major support level at $125.12 and 38.2% FIB of $125 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$120 levels. The second major support level at $120.65 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $125.12
Pivot Level: $130.16
First Major Resistance Level: $134.63
23.6% FIB Retracement Level: $148
38.2% FIB Retracement Level: $125
62% FIB Retracement Level: $87
Ripple’s XRP
Ripple’s XRP rallied by 11.56% on Sunday. Following on from Saturday’s 56.84% surge, Ripple’s XRP ended the week up by 81.2% to $0.49561.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.38701 before making a move.
While steering clear of the first major support level at $0.3094, Ripple’s XRP fell through the 38.2% FIB of $0.4070.
Finding mid-morning support, Ripple’s XRP rallied to a late morning intraday high $0.5369 before a 2nd pullback.
While breaking back through the 38.2% FIB, Ripple’s XRP fell short of the first major resistance level at $0.5485.
The 2nd sell-off saw Ripple’s XRP fall back to $0.42 levels before wrapping up the day at $0.49 levels.
Resistance at $0.50 pinned Ripple’s XRP back late in the day.
At the time of writing, Ripple’s XRP was down by 3.46% to $0.47847. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.49576 to a low $0.47020.
Ripple’s XRP left the major support and resistance levels untested early on.
