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For the day ahead
Litecoin would need to move through the $166 pivot to bring the first major resistance level at $171 and the 62% FIB of $174 into play.
Support from the broader market would be needed, however, for Litecoin to break out from $165 levels.
Barring an extended crypto rally, the first major resistance level and the 62% FIB would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $190. The second major resistance level sits at $179.
Failure to move through the $166 pivot would bring the first major support level at $158 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$150 levels. The second major support level at $153 should limit the downside.
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: $158
Pivot Level: $166
First Major Resistance Level: $171
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 2.85% on Friday. Following on from a 5.80% slide on Thursday, Ripple’s XRP ended the day at $0.84400.
After a mixed start to the day, Ripple’s XRP rose to an early afternoon intraday high $0.87937 before hitting reverse.
Falling short of the first major resistance level at $0.9149, Ripple’s XRP slid to a late intraday low $0.83459.
Ripple’s XRP fell through the 62% FIB of $0.8573 and the first major support level at $0.8374.
Finding late support, however, Ripple’s XRP broke back through the first major support level to end the day at $0.84 levels.
At the time of writing, Ripple’s XRP was down by 0.25% to 0.84188. A bearish start to the day saw Ripple’s XRP fall from an early morning high $0.84672 to a low $0.84188.
Ripple’s XRP left the major support and resistance levels untested early on.
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