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For the day ahead

Litecoin would need to avoid a fall through the $180.09 pivot level to support a run at the first major resistance level at $191.30 and the 23.6% FIB of $195.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $189.69.

Barring an extended crypto rally, the first major resistance level and the 23.6% FIB would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $210 before any pullback. The second major resistance level sits at $200.89.

Failure to avoid a fall through the $180.09 pivot level would bring the first major support level at $170.50 into play.

Barring another extended sell-off, Litecoin should steer clear of the 38.2% FIB of $163 and the second major support level at $159.29.

Looking at the Technical Indicators

First Major Support Level: $170.50

Pivot Level: $180.09

First Major Resistance Level: $191.30

23.6% FIB Retracement Level: $191

38.2% FIB Retracement Level: $159

62% FIB Retracement Level: $108

Ripple’s XRP

Ripple’s XRP fell by 0.38% on Wednesday. Following on from a 15.90% slump from Tuesday, Ripple’s XRP ended the day at $0.46923.

A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.45782 before making a move.

While steering clear of the first major support level at $0.3720, Ripple’s XRP fell through the 38.2% FIB of $0.4632.

Finding support through the morning, Ripple’s XRP broke back through the 38.2% FIB to strike an intraday high $0.50044.

Falling well short of the 23.6% FIB of $0.5320 and the first major resistance level at $0.5759, Ripple’s XRP fell back to $0.45 levels.

The pullback saw Ripple’s XRP briefly fall back through the 38.2% FIB before ending the day at $0.469 levels.

At the time of writing, Ripple’s XRP was down by 0.23% to $0.46813. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.47014 before falling to a low $0.46778.

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

(Excerpt) Read more Here | 2021-02-24 17:37:46

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