For the day ahead
Litecoin would need to move through the $297 pivot to bring the first major resistance level at $315 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $315 levels.
Barring an extended crypto rally, the first major resistance level and Tuesday’s high $318.43 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $340. Litecoin would need plenty of support, however, to break through the 23.6% FIB of $322. The second major resistance level sits at $336.
Failure to move through the $297 pivot would bring the first major support level at $276 into play.
Barring another extended sell-off, however, Litecoin should steer clear of the Second major support level at $258. the 38.2% FIB of $265 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $276
Pivot Level: $297
First Major Resistance Level: $315
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174
Ripple’s XRP
Ripple’s XRP rallied by 6.46% on Tuesday. Following on from a 3.12% gain on Monday, Ripple’s XRP ended the day at $1.59238.
A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $1.47311 before making a move.
Steering clear of the first major support level at $1.3606, Ripple’s XRP rallied to a late morning intraday high $1.70425.
Ripple’s XRP broke through the 23.6% FIB of $1.5426 and the first major resistance level at $1.5966.
Coming up against the second major resistance level at $1.6979, however, Ripple’s XRP fell back to $1.52 levels.
Finding late support, Ripple’s XRP broke back through the 23.6% FIB of $1.5426 to end the day at $1.59 levels. The first major resistance level at $1.5966 pinned Ripple’s XRP back late in the day.
At the time of writing, Ripple’s XRP was up by 0.24% to $1.59621. A mixed start to the day saw Ripple’s XRP fall to an early morning low $1.57889 before rising to a high $1.59835.
Ripple’s XRP left the major support and resistance levels untested early on.