For the day ahead
Litecoin would need to avoid the $120 pivot to bring the first major resistance level at $123 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $122.10.
Barring an extended crypto rally, the first major resistance level and resistance at $125 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $130. The second major resistance level sits at $126.
A fall through the $120 pivot would bring the first major support level at $117 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$110 levels. The second major support level at $113 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $117
Pivot Level: $120
First Major Resistance Level: $123
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP rose by 3.99% on Thursday. Following a 7.90% rally on Wednesday, Ripple’s XRP ended the day at $0.59332.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.56139 before making a move.
Steering clear of the first major support level at $0.5317, Ripple’s XRP rallied to a late intraday high $0.60294.
Ripple’s XRP broke through the first major resistance level at $0.5957 before easing back to end the day at sub-$0.594 levels.
At the time of writing, Ripple’s XRP was up by 0.07% to $0.59286. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.59428 before falling to a low $0.58886.
Ripple’s XRP left the major support and resistance levels untested early on.
