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For the day ahead
Litecoin would need to avoid a fall through the $194 pivot to bring the first major resistance level at $209 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $204.48.
Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $230. The second major resistance level sits at $219.
Failure to avoid a fall through the $194 pivot would bring the first major support level at $184 into play.
Barring an extended sell-off, however, Litecoin should steer clear of the 62% FIB of $174. The second major support level sits at $169.
A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.
Looking at the Technical Indicators
First Major Support Level: $184
Pivot Level: $194
First Major Resistance Level: $209
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174
Ripple’s XRP
Ripple’s XRP rose by 5.83% on Wednesday. Reversing a 1.60% decline from Tuesday, Ripple’s XRP ended the day at $1.03307.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.94910 before making a move.
Steering clear of the first major support level at $0.8863, Ripple’s XRP rose to a mid-morning intraday high $1.06941.
Coming up against the first major resistance level at $1.0633, Ripple’s XRP fell back to sub-$0.97 levels and into the red.
A late move back through to $1.03 levels delivered the upside on the day, however.
At the time of writing, Ripple’s XRP was up by 0.73% to $1.04061. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.02978 before rising to a high $1.04070.
Ripple’s XRP left the major support and resistance levels untested early on.
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