For the day ahead
Litecoin would need to move through the $181.74 pivot level to support a run at 23.6% FIB of $195 and the first major resistance level at $204.79.
Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB.
Barring an extended crypto rally, the 23.6% FIB would likely leave Litecoin short of the first major resistance level.
In the event of an extended breakout, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $231.98.
Failure to move through the $181.74 pivot level would bring the 38.2% FIB of $163 and the first major support level at $154.55 into play.
Barring another extended sell-off, Litecoin should steer well clear of the second major support level at $131.50.
Looking at the Technical Indicators
First Major Support Level: $154.55
Pivot Level: $181.74
First Major Resistance Level: $204.79
23.6% FIB Retracement Level: $191
38.2% FIB Retracement Level: $159
62% FIB Retracement Level: $108
Ripple’s XRP
Ripple’s XRP slumped by 15.90% on Tuesday. Reversing a 3.87% gain from Monday, Ripple’s XRP ended the day at $0.47646.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.57095 before hitting reverse.
Falling short of the first major resistance level at $0.6536, Ripple’s XRP tumbled to a late morning intraday low $0.3670.
The sell-off saw Ripple’s XRP fall through the first major support level at 0.4744 and the second major support level at $0.3826.
More significantly, Ripple’s XRP also fell through the 23.6% FIB of $0.5320 and the 38.2% FIB of $0.4632.
Finding support in the late morning, Ripple’s XRP broke back through the 38.2% FIB to end the day at $0.47 levels.
At the time of writing, Ripple’s XRP was down by 2.06% to $0.46664. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.47437 before falling to a low $0.46623.
Ripple’s XRP left the major support and resistance levels untested early on.
