For the day ahead

Litecoin would need to avoid a fall through the $46.75 pivot to support a run at the first major resistance level at $48.00.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $47.49.

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

In the event of another breakout, Litecoin could test the second major resistance level at $48.74.

Failure to avoid a fall through the $46.75 pivot level would bring the first major support level at $46.01 into play.

Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$45 levels. The second major support level sits at $44.76.

Looking at the Technical Indicators

First Major Support Level: $46.01

Pivot Level: $46.75

First Major Resistance Level: $48.00

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 1.01% on Thursday. Following a 1.31% gain on Wednesday, Ripple’s XRP ended the day at $0.25145.

It was also a bearish start to the day. Ripple’s XRP fell to a late morning intraday low $0.24225 before making a move.

Finding support at the first major support level at $0.2428, Ripple’s XRP rose to a late intraday high $0.25300.

Coming up against the first major resistance level at $0.2530, Ripple’s XRP eased back to end the day at sub-$0.2514 levels.

At the time of writing, Ripple’s XRP was up by 0.11% to $0.25173. A relatively bullish start to the day saw Ripple’s XRP rise from an early morning low $0.25142 to a high $0.25192.

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

(Excerpt) Read more Here | 2020-10-08 17:20:00
Image credit: source


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