For the day ahead
Litecoin would need to avoid the $170 pivot to bring the first major resistance level at $177 and the 23.6% FIB of $178 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $176.10.
Barring an extended crypto rally, the first major resistance level and 23.6% FIB would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $190 before any pullback. The second major resistance level at sits $182.
A fall through the $170 pivot would bring the first major support level at $165 into play.
Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $159.
Looking at the Technical Indicators
First Major Support Level: $165
Pivot Level: $170
First Major Resistance Level: $177
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP surged by 18.89% on Wednesday. Following a 4.31% gain on Tuesday, Ripple’s XRP ended the day at $1.01214.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.84853 before making a move.
Steering clear of the first major support level at $0.8149, Ripple’s XRP rallied to a late intraday high $1.09000.
Ripple’s XRP broke through the day’s major resistance levels and the 23.6% FIB of $0.8533 to end the day at $1.00 levels.
At the time of writing, Ripple’s XRP was up by 0.94% to $1.02163. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.00879 before rising to a high $1.03659.
Ripple’s XRP left the major support and resistance levels untested early on.
