For the day ahead
Litecoin would need to avoid a fall back through the $187 pivot level to support a run at the first major resistance level at $197.
Support from the broader market would be needed, however, for Litecoin to break back through the 23.6% FIB of $195.
Barring an extended crypto rally, the first major resistance level and resistance at $200 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $207.
Failure to avoid a fall back through the $187 pivot level would bring the first major support level at $178 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$170 levels. The second major support level sits at $168.
Looking at the Technical Indicators
First Major Support Level: $178
Pivot Level: $187
First Major Resistance Level: $197
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP
Ripple’s XRP rose by 2.97% on Wednesday. Reversing a 2.24% loss from Tuesday, Ripple’s XRP ended the day at $0.44935.
A bearish start to the day saw Ripple’s XRP fall to an early morning intraday low $0.43154 before making a move.
Steering clear of the first major support level at $0.4204, Ripple’s XRP rallied to a late morning intraday high $0.46884.
Ripple’s XRP broke through the first major resistance level at $0.4539 and the 38.2% FIB of $0.4632.
An afternoon pullback saw Ripple’s XRP fall back to sub-$0.45 levels before steadying.
Ripple’s XRP broke back through to $0.45 levels to test the first major resistance level at $0.4539 before easing back.
At the time of writing, Ripple’s XRP was down by 0.54% to $0.44694. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.44818 to a low $0.44694.
Ripple’s XRP left the major support and resistance levels untested early on.