The day ahead
Litecoin will need to avoid pulling back through the first major resistance at $ 329 in order to maintain a run at the second major resistance at $ 353.
However, for Litecoin to break out of this morning’s peak at $ 342, support from the broader market will be required.
Unless there is a sustained crypto rally, the second major resistance level is likely to limit any upside potential.
In the event of a sustained breakout, Litecoin could test resistance at the $ 360 level. The third major resistance is at $ 405.
Failure to avoid falling through the first major resistance at $ 329 will trigger a pivot point and levels below $ 300.
However, unless there is an ongoing sell-off, Litecoin should stay away from below $ 290 and the first major support at $ 277.
Looking at technical indicators
First Major Support Level: $ 277
Pivot Level: $ 300
First Major Resistance: $ 329
23.6% FIB correction level: $ 250
38.2% FIB retracement level: $ 207
62% FIB Recovery Rate: $ 138
XRP from Ripple
Ripple’s XRP fell 10.85% on Tuesday. After dropping 0.59% on Monday, Ripple’s XRP ended the day at $ 1.38884.
The bearish start to the day caused Ripple’s XRP to plummet from an early morning high of $ 1.55784 to a daily low of $ 1.32500.
Ripple’s XRP fell through 23.6% FIB at $ 1.5426, first major support at $ 1.4970 and second major support at $ 1.4415.
Finding support at the third major support at $ 1.3234, Ripple’s XRP renegotiated the $ 1.47 levels before sliding back into deep red.
Ripple’s XRP fell to its second major support at $ 1.4415 and ended the day at levels below $ 1.40.
At the time of writing, Ripple’s XRP is up 4.84% to $ 1.45609. A mixed start to the day saw Ripple’s XRP plummet to a morning low of $ 1.36874 and then rally to a high of $ 1.47568.
XRP Ripple left major support and resistance levels untested early on.