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For the day ahead
Litecoin would need to move through the $182 pivot level to support a run at the first major resistance level at $191 and the 23.6% FIB of $195.
Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.
Barring an extended crypto rally, the first major resistance level and 23.6% FIB would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $206.
Failure to move through the $182 pivot level would bring the first major support level at $167 into play.
Barring another extended sell-off, Litecoin should steer clear of the second major support level at $157.
The 38.2% FIB of $163 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $167
Pivot Level: $182
First Major Resistance Level: $191
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Ripple’s XRP
Ripple’s XRP tumbled by 12.77% on Wednesday. Following a modest 0.52% gain on Tuesday, Ripple’s XRP ended the day at $0.47929.
A bullish start saw Ripple’s XRP rally to an early afternoon intraday high $0.56260 before hitting reverse.
Falling short of the first major resistance level at $0.5843, Ripple’s XRP slid to a late intraday low $0.45319.
Ripple’s XRP fell through the first major support level at $0.5266 and the second major support level at $0.5036.
More significantly, Ripple’s XRP also fell through the 23.6% FIB of $0.5320 and the 38.2% FIB of $0.4632.
Finding late support, Ripple’s XRP moved back through 38.2% FIB to end the day at $0.47 levels.
At the time of writing, Ripple’s XRP was up by 0.61% to $0.48223. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.47481 before rising to a high $0.48611.
Ripple’s XRP left the major support and resistance levels untested early on.
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