For the day ahead
Litecoin would need to move back through the $157 pivot to bring the first major resistance level at $169 into play.
Support from the broader market would be needed, however, for Litecoin to out from Tuesday’s high $164.58.
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 the 62% FIB of $174 and the second major resistance level at $176.
Failure to move back through the $157 pivot would bring the first major support level at $149 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$140 levels. The second major support level sits at $138.
A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.
Looking at the Technical Indicators
First Major Support Level: $149
Pivot Level: $157
First Major Resistance Level: $169
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174
Ripple’s XRP
Ripple’s XRP rose by 1.45% on Tuesday. Partially reversing an 8.77% slide from Monday, Ripple’s XRP ended the day at $0.87457.
A choppy start to the day saw Ripple’s XRP fall to a mid-afternoon intraday low $0.78324 before finding support.
Ripple’s XRP fell through the 62% FIB of $0.8573 and the first major support level at $0.8109 before finding support.
Late in the day, Ripple’s XRP broke back through the 62% FIB to strike a late intraday high $0.8856.
Falling short of the first major resistance level at $0.9450, however, Ripple’s XRP eased back to end the day at sub-$0.88 levels.
At the time of writing, Ripple’s XRP was down by 3.31% to $0.84564. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.87611 before falling to a low $0.83982.
While leaving the major support and resistance levels untested, Ripple’s XRP fell back through the 62% FIB of $0.8573.
