For the day ahead
Litecoin would need to avoid a fall through the $339 pivot to support a run at the first major resistance level at $377.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $360.00.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $400. The second major resistance level sits at $398.
Failure to avoid a fall through the $339 pivot would bring the first major support level at $318 into play.
Barring an extended sell-off, however, Litecoin should steer clear of sub-$300. The Second major support level sits at $280.
Looking at the Technical Indicators
First Major Support Level: $318
Pivot Level: $339
First Major Resistance Level: $377
23.6% FIB Retracement Level: $250
38.2% FIB Retracement Level: $207
62% FIB Retracement Level: $138
Ripple’s XRP
Ripple’s XRP rallied by 16.17% on Wednesday. Reversing a 10.85% slide from Tuesday, Ripple’s XRP ended the day at $1.61348.
A bearish start to the day saw Ripple’s XRP slide to an early morning intraday low $1.36874 before making a move.
Steering clear of the first major support level at $1.2899, Ripple’s XRP rallied to a late intraday high $1.62749.
Ripple’s XRP broke through the first major resistance level at $1.5228 and the 23.6% FIB of $1.5426 before easing back.
The pullback saw Ripple’s XRP fall back sub-$1.60 levels before briefly revisiting $1.62 levels.
At the time of writing, Ripple’s XRP was up by 1.42% to $1.63637. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.61515 to a high $1.64553.
Ripple’s XRP left the major support and resistance levels untested early on.