For the day ahead
Litecoin would need to avoid a fall through the 23.6% FIB and the $175 pivot to bring the first major resistance level at $182 into play.
Support from the broader market would be needed, however, for Litecoin to break out from the 23.6% FIB of $178.
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 $190 before any pullback. The second major resistance level at sits $185.
A fall through the 23.6% FIB and the $175 pivot would bring the first major support level at $172 into play.
Barring another extended sell-off, however, Litecoin should steer clear of the second major support level at $166.
Looking at the Technical Indicators
First Major Support Level: $172
Pivot Level: $175
First Major Resistance Level: $182
23.6% FIB Retracement Level: $178
38.2% FIB Retracement Level: $223
62% FIB Retracement Level: $296
Ripple’s XRP
Ripple’s XRP rose by 3.37% on Wednesday. Partially reversing an 8.63% tumble from Tuesday, Ripple’s XRP ended the day at $1.17400.
A mixed start to the day saw Ripple’s XRP fall to a late morning intraday low $1.10831 before making a move.
Steering clear of the first major support level at $1.0840, Ripple’s XRP rallied to a late afternoon intraday high $1.17773.
Falling short of the first major resistance level at $1.2274, Ripple’s XRP slipped back to end the day at sub-$1.18 levels.
At the time of writing, Ripple’s XRP was up by 0.68% to $0.18200. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.16849 before rising to a high $1.18513.
Ripple’s XRP left the major support and resistance levels untested early on.