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For the day ahead
Litecoin would need to move through the $262 pivot level and the 23.6% FIB of $262 to support a run at the first major resistance level at $273.
Support from the broader market would be needed, however, for Litecoin to break back through to $270 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $276.97 would likely cap any upside.
In the event of a bounce back, Litecoin could test resistance at $300. The second major resistance level sits at $288.
Failure to move through the $262 pivot level and the 23.6% FIB of $262 would bring the first major support level at $247 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $236.
Looking at the Technical Indicators
First Major Support Level: $247
Pivot Level: $262
First Major Resistance Level: $273
23.6% FIB Retracement Level: $250
38.2% FIB Retracement Level: $207
62% FIB Retracement Level: $138
Ripple’s XRP
Ripple’s XRP slid by 6.95% on Wednesday. Reversing a 5.76% gain from Tuesday, Ripple’s XRP ended the day at $1.29017.
A bullish start to the day saw Ripple’s XRP rise to an early morning intraday high $1.46406 before hitting reverse.
Falling short of the first major resistance level at $1.4980, Ripple’s XRP slid to a late morning intraday low $1.28153.
Steering clear of the 38.2% FIB of $1.2807 and the first major support level at $1.2235, Ripple’s XRP revisited $1.41 levels before falling back into the deep red.
At the time of writing, Ripple’s XRP was up by 0.44% to $1.29580. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.26656 before rising to a high $1.30498.
While leaving the major support and resistance levels untested early on, Ripple’s XRP briefly fell through the 38.2% FIB of $1.2807.
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