For the day ahead
Litecoin would need to move through the $58.24 pivot to support a run at the first major resistance level at $59.36.
Support from the broader market would be needed, however, for Litecoin to break back through to $59 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $60 would likely cap any upside.
In the event of an extended breakout, Litecoin would likely test resistance at $61 before any pullback. The second major resistance level sits at $60.75.
Failure to move through the $58.24 pivot level would bring the first major support level at $56.85 into play.
Barring another extended sell-off on the day, however, Litecoin should steer well clear of the 23.6% FIB of $54.00. The second major support level at $55.73 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $56.85
Pivot Level: $58.24
First Major Resistance Level: $59.36
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 1.41% on Tuesday. Reversing a 1.23% fall from Monday, Ripple’s XRP ended the day at $0.25409.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.24823 before making a move.
Steering clear of the first major support level at $0.2456, Ripple’s XRP rallied to a late morning intraday high $0.26462.
Ripple’s XRP broke through the first major resistance level at $0.2558 and the second major resistance level at $0.2610.
A late morning reversal, however, saw Ripple’s XRP slide back to $0.256 levels going into the afternoon.
In the 2nd half of the day, Ripple’s XRP broke back through the first major resistance level before ending the day at $0.254 levels.
At the time of writing, Ripple’s XRP was down by 0.37% to $0.25314. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25451 before falling to a low $0.25274.
Ripple’s XRP left the major support and resistance levels untested early on.