For the day ahead
Litecoin would need to avoid the $114 pivot to bring the first major resistance level at $123 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $119.22.
Barring an extended crypto rally, the first major resistance level and resistance at $125 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $135. The second major resistance level sits at $128.
A fall through the $114 pivot would bring the first major support level at $109 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$100 levels. The second major support level at $100 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $109
Pivot Level: $114
First Major Resistance Level: $123
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP rallied by 7.90% on Wednesday. Reversing a 5.22% slide from Tuesday, Ripple’s XRP ended the day at $0.56956.
A choppy start to the day saw Ripple’s XRP slide to an early morning intraday low $0.52000 before making a move.
Steering clear of the first major support level at $0.5066, Ripple’s XRP rallied to a late intraday high $0.58395.
Ripple’s XRP broke through the first major resistance level at $0.5601 to end the day at $0.569 levels.
At the time of writing, Ripple’s XRP was up by 1.10% to $0.57580. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.56750 before rising to a high $0.57664.
Ripple’s XRP left the major support and resistance levels untested early on.