For the day ahead

Litecoin would need to avoid a fall through the $204.83 pivot level to support a run at the first major resistance level at $223.07.

Support from the broader market would be needed, however, for Litecoin to breakout from Monday’s high $220.00.

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

In the event of an extended breakout, Litecoin could test resistance at the swing hi $230.81 and the second major resistance level at $238.25.

Failure to avoid a fall through the $204.83 pivot level would bring the first major support level at $189.65 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$180 and the second major support level at $171.41. The 23.6% FIB of $182 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $189.65

Pivot Level: $204.83

First Major Resistance Level: $223.07

23.6% FIB Retracement Level: $182

38.2% FIB Retracement Level: $152

62% FIB Retracement Level: $104

Ripple’s XRP slid by 7.42% on Monday. Following a 6.74% fall on Sunday, Ripple’s XRP ended the day at $0.54911.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $0.60449 before hitting reverse.

Falling short of the first major resistance level at $0.6346, Ripple’s XRP tumbled to an early morning intraday low $.51117.

Ripple’s XRP fell through the first major support level at $0.5564 and the second major support level at $0.5202.

More importantly, Ripple’s XRP fell through the 23.6% FIB of $0.5320 before finding support.

Ripple’s XRP broke back through the 23.6% FIB and the major support levels to revisit $0.58 levels.

A bearish end to the day, however, saw Ripple’s XRP fall back through the first major support level to end the day at sub-$0.55 levels.

At the time of writing, Ripple’s XRP was down by 1.37% to $0.54159. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.55000 before falling to al ow $0.54076.

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

(Excerpt) Read more Here | 2021-02-16 10:05:59
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.