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For the day ahead
Litecoin would need to move through the $195 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 back through to $200 levels.
Barring an extended crypto rally, the first major resistance level and Thursday’s high $208.98 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 $223.
Failure to move through the $195 pivot would bring the first major support level at $180 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 $166.
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: $180
Pivot Level: $195
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 fell by 5.79% on Thursday. Reversing a 5.83% gain from Wednesday, Ripple’s XRP ended the day at $0.97083.
A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.04420 before hitting reverse.
Falling short of the first major resistance level at $1.0853, Ripple’s XRP fell to an early morning intraday low $0.93482.
Ripple’s XRP fell through the first major support level at $0.9650 before briefly revisiting $1.03 levels.
A bearish end to the day, however, saw Ripple’s XRP fall back to sub-$0.96 levels before ending the day at $0.97 levels.
The first major support level at $0.9650 limited the downside late in the day.
At the time of writing, Ripple’s XRP was down by 1.16% to $0.95955. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.97450 to a low $0.95799.
Ripple’s XRP left the major support and resistance levels untested early on.
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