For the day ahead
Litecoin would need to avoid the 23.6% FIB of $178 and the $175 pivot to bring the first major resistance level at $186 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $183.03 levels
Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap the upside.
In the event of another breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $194.
A fall through the 23.6% FIB of $178 and the $175 pivot would bring the first major support level at $167 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$165. The second major support level sits at $156.
Looking at the Technical Indicators
First Major Support Level: $167
Pivot Level: $175
First Major Resistance Level: $186
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP fell by 0.38% on Wednesday. Partially reversing a 3.95% rise from Tuesday, Ripple’s XRP ended the day at $1.07971.
A mixed start to the day saw Ripple’s XRP slide to a late morning intraday low $1.01807 before making a move.
Ripple’s XRP fell through the first major support level at $1.0539 and the second major resistance level at $1.0224.
The sell-off also saw Ripple’s XRP fall through the 38.2% FIB of $1.0659 before rallying to a mid-afternoon intraday high $1.10707.
Coming up against the first major resistance level at $1.1023, however, Ripple’s XRP fell back to end the day at $1.07 levels.
At the time of writing, Ripple’s XRP was down by 0.43% to $1.07508. A bearish start to the day saw Ripple’s XRP fall from an early morning high $1.07588 to a low $1.07508.
Ripple’s XRP left the major support and resistance levels untested early on.
