For the day ahead

Litecoin would need to avoid a fall through the $60.58 pivot to support a run at the first major resistance level at $62.48.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $62.07.

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

In the event of an extended breakout, Litecoin would likely test the second major resistance level at $63.98.

Failure to avoid a fall through the $60.58 pivot level would bring the first major support level at $59.08 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $57.18.

Looking at the Technical Indicators

First Major Support Level: $59.08

Pivot Level: $60.58

First Major Resistance Level: $62.48

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 1.79% on Sunday. Partially reversing a 3.71% slide from Saturday, Ripple’s XRP ended the week up by 5.44% to $0.25369.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.24784 before making a move.

Steering clear of the first major support level at $0.2399, Ripple’s XRP rallied to a late afternoon intraday high $0.25722.

Falling short of the first major resistance level at $0.2631, Ripple’s XRP eased back to end the week at sub-$0.254 levels.

At the time of writing, Ripple’s XRP was flat at $0.25370. A mixed start to the day saw Ripple’s XRP rise from an early morning low $0.25369 to a high $0.25459 before easing back.

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

(Excerpt) Read more Here | 2020-11-08 17:28:25
Image credit: source

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