For the day ahead

Litecoin would need to avoid a fall through the $81.50 pivot to support a run at the first major resistance level at $83.85.

Support from the broader market would be needed, however, for Litecoin to break out from the morning high $83.50.

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

In the event of an extended breakout, Litecoin could test the second major resistance level at $85.34.

Failure to avoid a fall through the $81.50 pivot level would bring the first major support level at $80.01 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$75 support levels. The second major support level at $77.66 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $80.01

Pivot Level: $81.50

First Major Resistance Level: $83.85

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 3.00% on Monday. Reversing a 1.27% gain from Sunday, Ripple’s XRP ended the day at $0.49777.

Tracking the broader market, Ripple’s XRP rose to an early morning intraday high $0.51886 before hitting reverse.

Falling short of the first major resistance level at $0.5320, Ripple’s XRP fell to a late afternoon intraday low $0.48955.

The reversal saw Ripple’s XRP fall through the first major support level at $0.4901 before finding support late in the day. Ripple’s XRP broke back through the first major support level to end the day at $0.497 levels.

At the time of writing, Ripple’s XRP was up by 0.72% to $0.50134. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.4980 to a high $0.50134.

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

(Excerpt) Read more Here | 2020-12-14 17:47:33
Image credit: source

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