For the day ahead
Litecoin would need to avoid a fall through the $164.89 pivot level to support a run at the first major resistance level at $174.42.
Support from the broader market would be needed, however, for Litecoin to break out from the morning high $169.92.
Barring an extended crypto rally, the first major resistance level and resistance at $175 would likely cap any upside.
In the event of another extended breakout, Litecoin could test resistance at $190 before any pullback. The second major resistance level sits at $179.42.
Failure to avoid a fall through the $164.89 pivot level would bring the first major support level at $159.89 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$150 levels. The second major support level at $150.36 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $159.89
Pivot Level: $164.89
First Major Resistance Level: $174.42
23.6% FIB Retracement Level: $139
38.2% FIB Retracement Level: $117
62% FIB Retracement Level: $82
Ripple’s XRP
Ripple’s XRP surged by 9.97% on Wednesday. Reversing a 4.09% slide from Tuesday, Ripple’s XRP ended the day at $0.24905.
Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.2220 before making a move.
Steering clear of the first major support level at $0.2152, Ripple’s XRP jumped to an early afternoon intraday high $0.27627.
Ripple’s XRP broke through the first major resistance level at $0.2402 and the second major resistance level at $0.2541.
Coming within range of the third major resistance level at $0.2791, however, slid back to sub-$0.24 levels.
Finding late support, Ripple’s XRP broke back through the first major resistance level to wrap up the day at $0.249 levels. The second major resistance level at $0.2541 pinned Ripple’s XRP back late in the day.
At the time of writing, Ripple’s XRP was down by 0.43% to $0.24798. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.25006 before falling to a low $0.24722.
Ripple’s XRP left the major support and resistance levels untested early on.