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For the day ahead

Litecoin would need to move back through the $204.99 pivot level to support a run at the first major resistance level at $230.96.

Support from the broader market would be needed, however, for Litecoin to break back through to $220 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $227.72 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $240 before any pullback. The second major resistance level sits at $253.69.

Failure to move back through the $204.99 pivot level would bring the 23.6% FIB of $195 and the first major support level at $182.26 into play.

Barring another extended sell-off, Litecoin should steer well clear of the second major support level at $156.26. The 38.2% FIB of $163 should limit the downside in the event of a sell-off.

Looking at the Technical Indicators

First Major Support Level: $182.26

Pivot Level: $204.99

First Major Resistance Level: $230.96

23.6% FIB Retracement Level: $191

38.2% FIB Retracement Level: $159

62% FIB Retracement Level: $108

Ripple’s XRP

Ripple’s XRP rose by 3.87% on Monday. Following on from a 6.47% rally from Sunday, Ripple’s XRP ended the day at $0.56619.

A mixed start to the day saw jump to a mid-morning intraday high $0.64919.

Ripple’s XRP broke through the day’s major resistance levels before hitting reverse.

Going into the 2nd half of the day, Ripple’s XRP slid to an early afternoon intraday low $0.47000.

Ripple’s XRP fell through the first major support level at $0.5132 and the second major support level at $0.4813.

More significantly, Ripple’s XRP fell back through the 23.6% FIB of $0.5320 before revisiting $0.63 levels late in the day.

Ripple’s XRP broke back through the first major resistance level at $0.5677 and the second major resistance level at $0.5903.

A bearish end to the day, however, saw Ripple’s XRP fall back through the major resistance levels to end the day at $0.566 levels.

At the time of writing, Ripple’s XRP was down by 1.53% to 0.55755. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.56869 before falling to a low $0.55602.

Ripple’s XRP left the major support and resistance levels untested early on.

(Excerpt) Read more Here | 2021-02-22 17:29:32

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