For the day ahead
Litecoin would need to move through the $79.04 pivot to support a run at the first major resistance level at $82.59.
Support from the broader market would be needed, however, for Litecoin to break back through to $80 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $84.93 would likely cap any upside.
In the event of an extended breakout, Litecoin could test the second major resistance level at $88.47 and resistance at $90.
Failure to move through the $79.04 pivot level would bring the first major support level at $73.16 into play.
Barring another extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $69.61. The 38.2% FIB of $71 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $73.16
Pivot Level: $79.04
First Major Resistance Level: $82.59
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 8.17% on Tuesday. Following on from a 2.50% fall on Monday, Ripple’s XRP ended the day at $0.5588.
Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.61059 before hitting reverse.
Falling short of the first major resistance level at $0.6252 and the 23.6% FIB, Ripple’s XRP slid to a late intraday low $0.5500.
The reversal saw Ripple’s XRP fall through the first major support level at $0.5912 and the second major support level at $0.5740.
Finding late support, Ripple’s XRP moved back through to $0.558 levels to reduce the deficit on the day.
At the time of writing, Ripple’s XRP was down by 0.22% to $0.55759. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.56078 before falling to a low $0.55443.
Ripple’s XRP left the major support and resistance levels untested early on.