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For the day ahead

Litecoin would need to move through the $83.48 pivot to support a run at the first major resistance level at $89.01.

Support from the broader market would be needed, however, for Litecoin to break out from $85 levels.

Barring another extended crypto rally, the first major resistance level and Wednesday’s high $90.74 would likely cap any upside.

In the event of another extended breakout, Litecoin would likely test the second major resistance level at $96.27.

Failure to move through the $83.48 pivot level would bring the first major support level at $76.22 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$75 levels. The second major support level sits at $70.69.

Looking at the Technical Indicators

First Major Support Level: $76.22

Pivot Level: $83.48

First Major Resistance Level: $89.01

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP tumbled by 9.08% on Wednesday. Reversing most of a 12.39% rally from Tuesday, Ripple’s XRP ended the day at $0.63053.

It was also a mixed start to the day. Ripple’s XRP rose to an early morning high $0.70972 before hitting reverse.

Falling short of the major resistance levels, Ripple’s XRP fell to an early morning low $0.61570.

While steering clear of the major support levels, Ripple’s XRP fell through the 23.6% FIB of $0.6274.

Finding support through the late morning, however, Ripple’s XRP rose to a mid-afternoon intraday high $0.72399 before hitting reverse.

While breaking back through the 23.6% FIB, Ripple’s XRP fell well short of the first major resistance level at $0.7986.

The reversal saw Ripple’s XRP slide to a late intraday low $0.58126. Ripple’s XRP fell back through the 23.6% FIB briefly wrapping up the day at $0.63 levels.

At the time of writing, Ripple’s XRP was up by 2.19% to $0.64435. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.61782 before rising to a high $0.6500.

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

(Excerpt) Read more Here | 2020-11-25 18:02:40


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