For the day ahead

Litecoin would need to move back through the $88.66 pivot to support a run at the first major resistance level at $91.79.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $91.35.

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

In the event of another extended breakout, Litecoin could test the second major resistance level at $94.47.

Failure to move back through the $88.66 pivot level would bring the first major support level at $85.98 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$80 levels. The second major support level at $82.85 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $85.98

Pivot Level: $88.66

First Major Resistance Level: $91.79

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP rose by 0.19% on Thursday. Following on from a 3.18% gain on Wednesday, Ripple’s XRP ended the day at $0.63098.

A bearish start to the day saw Ripple’s XRP fall to a mid-morning intraday low $0.61447 before making a move.

While steering clear of the first major support level at $0.6060, Ripple’s XRP fell through the 23.6% FIB of $0.6274.

Finding late morning support, however, Ripple’s XRP rose to a late afternoon intraday high $0.64249.

While breaking back through the 23.6% FIB, Ripple’s XRP came up short of the first major resistance level at $0.6434.

A late pullback saw Ripple’s XRP fall back through the 23.6% FIB of $0.6274 before wrapping up the day at $0.63 levels.

At the time of writing, Ripple’s XRP was down by 0.31% to $0.62903. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.62991 before falling to a low $0.62820.

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

(Excerpt) Read more Here | 2020-12-03 17:24:07
Image credit: source

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.