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For the day ahead

Litecoin would need to move through the $156.09 pivot level to support a run at the first major resistance level at $162.02.

Support from the broader market would be needed, however, for Litecoin to break back through to $160 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $166.21 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $180. The second major resistance level sits at $172.13.

Failure to move through the $156.09 pivot level would bring 23.6% FIB of $148 and the first major support level at $145.98 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $140.05.

Looking at the Technical Indicators

First Major Support Level: $145.98

Pivot Level: $156.09

First Major Resistance Level: $162.02

23.6% FIB Retracement Level: $148

38.2% FIB Retracement Level: $125

62% FIB Retracement Level: $87

Ripple’s XRP

Ripple’s XRP rose by 2.87% on Tuesday. Following on from a 2.77% gain on Monday, Ripple’s XRP ended the day at $0.29424.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $0.28415 before making a move.

Steering clear of the first major support level at $0.2751, Ripple’s XRP jumped to a mid-morning intraday high $0.32960.

Ripple’s XRP broke through the day’s major resistance levels and the 23.6% FIB of $0.3172.

It was bearish through the remainder of the day, however.

Ripple’s XRP fell back through the third major resistance level at $0.3157 and the second major resistance level at $0.2988.

More significantly, Ripple’s XRP also fell back through the 23.6% FIB of $0.3172.

Finding support at the first major resistance level at $0.2921, however, Ripple’s XRP wrapped up the day at $0.294 levels.

At the time of writing, Ripple’s XRP was up by 0.12% to $0.29460. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.29044 before rising to a high $0.29494.

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

(Excerpt) Read more Here | 2021-01-19 17:23:29


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