For the day ahead
Litecoin would need to move back through the $258 pivot level to support a run at the 23.6% FIB of $262 and the first major resistance level at $268.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $267.00.
Barring an extended crypto rally, the first major resistance level and resistance at $270 would likely cap any upside.
In the event of a bounce back, Litecoin could test resistance at $285. The second major resistance level sits at $277.
Failure to move back through the $258 pivot level would bring the first majors support level at $249 into play.
Barring another extended sell-off, Litecoin should steer clear of sub-$240 levels. The second major support level at $240 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $249
Pivot Level: $258
First Major Resistance Level: $268
23.6% FIB Retracement Level: $250
38.2% FIB Retracement Level: $207
62% FIB Retracement Level: $138
Ripple’s XRP
Ripple’s XRP fell by 3.10% on Wednesday. Reversing a 2.94% gain from Tuesday, Ripple’s XRP ended the day at $1.35998.
After a mixed start to the day, Ripple’s XRP rise to an early morning intraday high $1.44908 before hitting reverse.
Falling short of the first major resistance level at $1.4682, Ripple’s XRP fell to a mid-morning intraday low $1.28600.
Ripple’s XRP fell through the first major support level at $1.3344 before revisiting $1.40 levels late in the day.
A bearish end to the day, however, saw Ripple’s XRP slide back into the red.
At the time of writing, Ripple’s XRP was up by 0.63% to $1.36856. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.34687 before rising to a high $1.37136.
Ripple’s XRP left the major support and resistance levels untested early on.