For the day ahead
Litecoin would need to move through the $54.62 pivot to support a run at the first major resistance level at $56.14.
Support from the broader market would be needed, however, for Litecoin to break back through to $56 levels.
Barring another extended crypto rally, the first major resistance level and Thursday’s high $56.32 would likely cap any upside.
In the event of another breakout, Litecoin would likely test the second major resistance level at $57.85.
Failure to move through the $54.62 pivot level would bring the 23.6% FIB and the first major support level at $52.91 into play.
Barring an extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $51.39.
Looking at the Technical Indicators
First Major Support Level: $52.91
Pivot Level: $54.62
First Major Resistance Level: $56.14
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 2.39% on Thursday. Following on from a 3.26% rally on Wednesday, Ripple’s XRP ended the day at $0.25746.
Bullish through most of the day, Ripple’s XRP rallied to a late intraday high $0.26391 before hitting reverse.
Ripple’s XRP broke through the first major resistance level at $0.2566 and the second major resistance level at $0.2617.
A final hour pullback, however, saw Ripple’s XRP fall to an intraday low $0.25111 before finding support.
Ripple’s XRP broke back through the first major resistance level at $0.2566 to wrap up the day at $0.257 levels.
At the time of writing, Ripple’s XRP was down by 0.64% to $0.25580. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.25737 to a low $0.25580.
Ripple’s XRP left the major support and resistance levels untested early on.