For the day ahead
Litecoin would need to avoid a fall through the $226.22 pivot level to support a run at the first major resistance level at $248.91.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s new swing hi $237.59.
Barring an extended crypto rally, the first major resistance level and resistance at $250 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $270 before any pullback. The second major resistance level sits at $260.29.
Failure to avoid a fall through the $226.22 pivot level would bring the first major support level at $214.84 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$200 and the second major support level at $192.15.
Looking at the Technical Indicators
First Major Support Level: $214.84
Pivot Level: $226.22
First Major Resistance Level: $248.91
23.6% FIB Retracement Level: $187
38.2% FIB Retracement Level: $156
62% FIB Retracement Level: $106
Ripple’s XRP
Ripple’s XRP rose by 2.60% on Wednesday. Partially reversing a 5.35% slide from Tuesday, Ripple’s XRP ended the day at $0.53367.
Tracking the broader market, Ripple’s XRP fell through the 23.6% FIB of $0.5320 to an early morning intraday low $0.49394 before making a move.
Steering clear of the first major support level at $0.4745, Ripple’s XRP rose to a late afternoon intraday high $0.55741.
Falling short of the first major resistance level at $0.5726, Ripple’s XRP eased back to end the day at $0.53 levels.
The 23.6% FIB of $0.5320 delivered support late in the day.
At the time of writing, Ripple’s XRP was up by 2.47% to $0.54673. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.53489 to a high $0.54775.
Ripple’s XRP left the major support and resistance levels untested early on.