For the day ahead
Litecoin would need to avoid a fall through the $128.53 pivot to support a run at the first major resistance level at $134.47.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $132.89.
Barring an extended crypto rally, the first major resistance level and resistance at $135 would likely cap any upside.
In the event of another extended breakout, Litecoin could test resistance at $140 before any pullback. The second major resistance level sits at $138.82.
Failure to avoid a fall through the $128.53 pivot level would bring the first major support level at $124.18 into play.
Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$120 levels. The second major support level sits at $118.24.
Looking at the Technical Indicators
First Major Support Level: $124.18
Pivot Level: $128.53
First Major Resistance Level: $134.47
23.6% FIB Retracement Level: $112
38.2% FIB Retracement Level: $96
62% FIB Retracement Level: $69
Ripple’s XRP
Ripple’s XRP fell by 4.51% on Wednesday. Following on from a 10.65% slide on Tuesday, Ripple’s XRP ended the day at $0.21138. It was the 6th consecutive day in the red for Ripple’s XRP.
Tracking the broader market, Ripple’s XRP rose to an early morning high $0.22356 before hitting reverse.
Falling short of the major resistance levels, Ripple’s XRP slid to an early morning intraday low $0.19186.
Steering clear of the first major support level at $0.1785, Ripple’s XRP struck a late afternoon intraday high $0.23739.
Falling short of the first major resistance level at $0.2576, however, Ripple’s XRP slid back to $0.20 levels before wrapping up the day at $0.21 levels.
At the time of writing, Ripple’s XRP was up by 0.08% to $0.21013. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.21142 before falling to a low $0.20802.
Ripple’s XRP left the major support and resistance levels untested early on.