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For the day ahead

Litecoin would need to avoid a fall back through the $73.00 pivot to support a run at the first major resistance level at $77.66.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $77.18.

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 $81.84.

Failure to avoid a fall through the $73.00 pivot level would bring the 38.2% FIB of $71and the first major support level at $68.82 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$68. The second major support level sits at $64.16.

Looking at the Technical Indicators

First Major Support Level: $68.82

Pivot Level: $73.00

First Major Resistance Level: $77.66

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP slid by 3.01% on Wednesday. Partially reversing a 5.08% gain from Tuesday, Ripple’s XRP ended the day at $0.29366.

It was a mixed start to the day. Ripple’s XRP rose to an early morning intraday high $0.30820 before hitting reverse.

Falling short of the first major resistance level at $0.3096, Ripple’s XRP slid to a mid-morning intraday low $0.28049.

Ripple’s XRP fell through the first major support level at $0.2918 before a late recovery to $0.29 levels.

Off the back of the late support, Ripple’s XRP broke back through the first major support level at $0.2918.

At the time of writing, Ripple’s XRP was down by 0.61% to $0.29186. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.29431 before falling to a low $0.29007.

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

(Excerpt) Read more Here | 2020-11-19 01:06:47


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