For the day ahead
Litecoin would need to avoid a fall through the $199 pivot level to support a run at the first major resistance level at $208.
Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $205.27.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $215 before any pullback. The second major resistance level sits at $214.
Failure to avoid a fall through the $199 pivot level would bring the 23.6% FIB of $195 and the first major support level at $194 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$185 support levels. The second major support level at $185 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $194
Pivot Level: $199
First Major Resistance Level: $208
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP
Ripple’s XRP rallied by 5.48% on Tuesday. Reversing a 0.79% fall from Monday, Ripple’s XRP ended the day at $0.45984.
A mixed start saw Ripple’s XRP fall to an early morning intraday low $0.42736 before making a move.
Steering clear of the first major support level at $0.4232, Ripple’s XRP rallied to a mid-morning intraday high $0.53116.
Ripple’s XRP broke through the day’s major resistance levels and the 38.2% FIB of $0.4632.
Coming up against the 23.6% FIB of $0.5320, Ripple’s XRP slid back to $0.447 levels before wrapping up the day at $0.4598 levels.
Ripple’s XRP fell back through the major resistance levels and the 38.2% FIB.
The late move back through to $0.46 levels, however, saw Ripple’s XRP break back through the first major resistance level at $0.4481 and the second major resistance level at $0.4605 before easing back.
Late in the day, the 38.2% FIB of $0.4632 pinned Ripple’s XRP back.
At the time of writing, Ripple’s XRP was up by 0.37% to $0.46156. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.46061 before rising to a high $0.46357.
While Ripple’s XRP left the major support and resistance levels untested, the 38.2% FIB of $0.4632 pinned Ripple’s XRP back.