For the day ahead
Litecoin would need to move through the $50.06 pivot to support a run at the first major resistance level at $50.82.
Support from the broader market would be needed, however, for Litecoin to break out from $50.50 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $51.04 would likely cap any upside.
In the event of another breakout, Litecoin would likely test the second major resistance level at $51.81. Resistance at $52 would likely cap any upside, however.
Failure to move through the $50.06 pivot level would bring the first major support level at $49.07 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $48.31.
Looking at the Technical Indicators
First Major Support Level: $49.07
Pivot Level: $50.06
First Major Resistance Level: $50.82
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP slid by 2.83% on Wednesday. Reversing a 0.25% gain from Tuesday, Ripple’s XRP ended the day at $0.24937.
A mixed start to the day saw Ripple’s XRP rise to a late morning intraday high $0.25867 before hitting reverse.
Coming up against the first major resistance level at $0.2603, Ripple’s XRP slid to a late afternoon intraday low $0.24632.
Ripple’s XRP fell through the first major support level at $0.2529 and the second major support level at $0.2491.
A late move back through to $0.249 levels saw Ripple’s XRP move back through the second major support level.
At the time of writing, Ripple’s XRP was down by 0.20% to $0.24887. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.24911 to a low $0.24883.
Ripple’s XRP left the major support and resistance levels untested early on.