For the day ahead
Litecoin would need to avoid a fall through the 23.6% FIB and the $194 pivot level to support a run at the first major resistance level at $202.
Support from the broader market would be needed, however, for Litecoin to break out from $200 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $206.
Failure to avoid a fall through the 23.6% FIB of $195 and the $194 pivot level would bring the first major support level at $190 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$180 levels. The second major support level at $183 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $190
Pivot Level: $194
First Major Resistance Level: $202
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP
Ripple’s XRP rose by 1.14% on Wednesday. Reversing a 0.46% loss from Tuesday, Ripple’s XRP ended the day at $0.56954.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.5290 before making a move.
Ripple’s XRP fell through the first major support level at $0.5532 and the second major support level at $0.5429.
More significantly, Ripple’s XRP also fell through the 23.6% FIB of $0.5320 before rallying to a late intraday high $0.58000.
Ripple’s XRP broke back through the support levels and the 23.6% FIB before sliding back to sub-$0.57 levels.
The first major resistance level at $0.5798 pinned Ripple’s XRP late in the day.
At the time of writing, Ripple’s XRP was down by 0.41% to $0.56718. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.57342 before falling to a low $0.56472.
Ripple’s XRP left the major support and resistance levels untested early on.
