Image credit: source

For the day ahead

Litecoin would need to avoid a fall through the $74.98 pivot to support a run at the first major resistance level at $78.47.

Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $77.04.

Barring another extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another extended breakout, Litecoin would likely test resistance at $80 before any pullback. The second major resistance level sits at $80.54.

Failure to avoid a fall through the $74.98 pivot level would bring the first major support level at $72.91 and the 38.2% FIB of 71 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$70. The second major support level sits at $69.42.

Looking at the Technical Indicators

First Major Support Level: $72.91

Pivot Level: $74.98

First Major Resistance Level: $78.47

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rallied by 5.08% on Tuesday. Following on from a 7.03% breakout on Monday, Ripple’s XRP ended the day at $0.30278.

It was a mixed start to the day. Ripple’s XRP fell to an early morning intraday low $0.28771 before making a move.

Steering clear of the first major support level at $0.2739, Ripple’s XRP rallied to a mid-day intraday high $0.30550.

Ripple’s XRP broke through the first major resistance level at $0.2962 and the second major resistance level at $0.3041.

Bearish going into the afternoon, however, Ripple’s XRP fell back to sub-$0.30 levels before wrapping up the day at $0.0302 levels.

The second major resistance level pinned Ripple’s XRP back late in the day.

At the time of writing, Ripple’s XRP was up by 0.90% to $0.30550. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.30277 to a high $0.30550.

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

(Excerpt) Read more Here | 2020-11-18 00:24:45

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.