For the day ahead

Litecoin would need to avoid a fall through the $51.74 pivot to support a run at 23.6% FIB and the first major resistance level at $56.58.

Support from the broader market would be needed, however, for Litecoin to break out from 23.6% FIB.

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

In the event of another breakout, Litecoin would likely test resistance at $60 before any pullback. The second major resistance level sits at $60.03.

Failure to avoid a fall through the $51.74 pivot level would bring the first major support level at $48.29 into play.

Barring an extended sell-off on the day, however, Litecoin should steer well clear of the second major support level at $43.45.

Looking at the Technical Indicators

First Major Support Level: $48.29

Pivot Level: $51.74

First Major Resistance Level: $48.29

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 3.26% on Wednesday. Reversing a 0.85% decline from Tuesday, Ripple’s XRP ended the day at $0.25146.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.24311 before making a move.

Steering clear of the first major support level at $0.2400, Ripple’s XRP rallied to a late afternoon intraday high $0.2550.

Ripple’s XRP broke through the first major resistance level at $0.2488 and the second major resistance level at $0.2539.

A late pullback, however, saw Ripple’s XRP fall back through the second major resistance level to sub-$0.2520 levels.

At the time of writing, Ripple’s XRP was up by 0.74% to $0.25332. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.25146 to a high $0.25452.

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

(Excerpt) Read more Here | 2020-10-21 17:24:34
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.