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For the day ahead
Litecoin would need to avoid a fall through the $273 pivot level to support a run at the first major resistance level at $289.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s swing hi $283.20.
Barring an extended crypto rally, the first major resistance level and resistance at $290 would likely cap any upside.
In the event of an extended rally, Litecoin could test the second major resistance level at $300.
Failure to avoid a fall through the $273 pivot level would bring the first major support level at $262 into play.
Barring an extended sell-off, Litecoin should steer well clear of the second major support level at $245.
Looking at the Technical Indicators
First Major Support Level: $262
Pivot Level: $273
First Major Resistance Level: $289
23.6% FIB Retracement Level: $222
38.2% FIB Retracement Level: $185
62% FIB Retracement Level: $124
Ripple’s XRP
Ripple’s XRP rose by 2.30% on Wednesday. Following on from a 22.24% jump on Tuesday, Ripple’s XRP ended the day at $1.83817.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high and a new swing hi $1.96598 before hitting reverse.
Falling short of the first major resistance level at $1.9839, Ripple’s XRP slid to an early afternoon intraday low $1.5454.
Steering clear of the first major support level at $1.5132, Ripple’s XRP recovered to end the day at $1.83 levels.
At the time of writing, Ripple’s XRP was down by 0.84% to $1.82281. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.88353 before falling to a low $1.82230.
Ripple’s XRP left the major support and resistance levels untested early on.
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