For the day ahead

Litecoin would need to avoid a fall back through the $146 pivot to bring the first major resistance level at $174 and the 62% FIB of $174 into play.

Support from the broader market would be needed, however, for Litecoin to break out from $150 levels.

Barring an extended crypto rally, the first major resistance level and the 62% FIB would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $190. The second major resistance level sits at $205.

Failure to avoid a fall back through the $146 pivot would bring the first major support level at $115 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$100 levels. The second major support level sits at $87.

A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.

Looking at the Technical Indicators

First Major Support Level: $115

Pivot Level: $146

First Major Resistance Level: $174

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP slid by 12.48% on Sunday. Following on from a 10.11% reversal on Saturday, Ripple’s XRP ended the week down by 45.30% to $0.79310.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.96753 before hitting reverse.

Falling short of the first major resistance level at $1.0075, Ripple’s XRP slid to a late afternoon intraday low $0.65085.

The extended sell-off saw Ripple’s XRP fall through the 62% FIB of $0.8573 and the first major support level at $0.8132.

Ripple’s XRP also fell through the second major support level at $0.7209.

Through the 2nd half of the day, Ripple’s XRP moved back through the second major support level to end the day at $0.79 levels.

At the time of writing, Ripple’s XRP was up by 2.33% to $0.81154. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.79310 to a high $0.82282.

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

(Excerpt) Read more Here | 2021-05-23 17:45:00
Image credit: source

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