For the day ahead
Litecoin would need to avoid a fall through the $51.74 pivot to support a run at 23.6% FIB and the first major resistance level at $56.58.
Support from the broader market would be needed, however, for Litecoin to break out from 23.6% FIB.
Barring another extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Litecoin would likely test resistance at $60 before any pullback. The second major resistance level sits at $60.03.
Failure to avoid a fall through the $51.74 pivot level would bring the first major support level at $48.29 into play.
Barring an extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $43.45.
Looking at the Technical Indicators
First Major Support Level: $48.29
Pivot Level: $51.74
First Major Resistance Level: $48.29
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP rose by 3.26% on Wednesday. Reversing a 0.85% decline from Tuesday, Ripple’s XRP ended the day at $0.25146.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.24311 before making a move.
Steering clear of the first major support level at $0.2400, Ripple’s XRP rallied to a late afternoon intraday high $0.2550.
Ripple’s XRP broke through the first major resistance level at $0.2488 and the second major resistance level at $0.2539.
A late pullback, however, saw Ripple’s XRP fall back through the second major resistance level to sub-$0.2520 levels.
At the time of writing, Ripple’s XRP was up by 0.74% to $0.25332. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.25146 to a high $0.25452.
Ripple’s XRP left the major support and resistance levels untested early on.