For the day ahead

Litecoin would need to move through the $168 pivot to bring the first major resistance level at $173 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $170 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $174.58 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at the 23.6% FIB of $178 and the second major resistance level at $180.

Failure to move through the $168 pivot would bring the first major support level at $161 into play.

Barring an extended sell-off, however, Litecoin should steer clear of the second major support level at $156.

Looking at the Technical Indicators

First Major Support Level: $161

Pivot Level: $168

First Major Resistance Level: $173

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rose by 4.46% on Wednesday. Partially reversing a 7.41% slide from Tuesday, Ripple’s XRP ended the day at $1.14600.

Tracking the broader market, Ripple’s XRP fell to an early morning intraday low $1.05050 before making a move.

Finding support at the first major support level at $1.0521, Ripple’s XRP rallied to a late afternoon intraday high $1.19591.

Ripple’s XRP broke through the first major resistance level at $1.1864 before briefly falling back to $1.10 levels.

A bullish end to the day delivered the upside, however.

At the time of writing, Ripple’s XRP was up by 0.90% to $1.15632. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.14482 before rising to a high $1.15803.

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

(Excerpt) Read more Here | 2021-08-18 17:25:21
Image credit: source


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