For the day ahead
Litecoin would need to avoid a fall through the $107.39 pivot to support a run at the first major resistance level at $116.11.
Support from the broader market would be needed, however, for Litecoin to break out from the morning high $112.67.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $120 before any pullback. The second major resistance level sits at $121.01.
Failure to avoid a fall through the $107.39 pivot level would bring the first major support level at $102.49 and 23.6% FIB of $101 into play.
Barring an extended sell-off on the day, however, Litecoin should steer of the second major support level at $93.77.
Looking at the Technical Indicators
First Major Support Level: $102.49
Pivot Level: $107.39
First Major Resistance Level: $116.11
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP
Ripple’s XRP surged by 29.65% on Thursday. Partially reversing Wednesday’s 41.71% slump, Ripple’s XRP ended the day at $0.33782.
A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.3070 before hitting reverse.
Falling well short of the first major resistance level at $0.4054, Ripple’s XRP fell to a mid-morning intraday low $0.24008.
Steering clear of the first major support level at $0.1573, Ripple’s XRP rallied to a late intraday high $0.3800.
While falling short of the first major resistance level at $0.4054, Ripple’s XRP broke through the 23.6% FIB of $0.3386.
At the day end, however, Ripple’s XRP eased back to end the day at $0.33 levels. The 23.6% FIB of $0.3386 provided support late on.
At the time of writing, Ripple’s XRP was down by 3.21% to $0.32696. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.34728 before falling to a low $0.32633.
While leaving the major support and resistance levels untested, Ripple’s XRP broke through the 23.6% FIB of $0.3386 before hitting reverse.