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For the day ahead
Litecoin should avoid a fall through the $ 86.99 pivot to support a run to the first major resistance level at $ 93.17.
Support from the broader market would, however, be needed for Litecoin to break out of Monday’s $ 90.98 high.
Barring another extended crypto rally, the first major resistance level and Monday’s high would likely cap any rise.
In the event of another extended breakout, Litecoin would likely test the second major resistance level at $ 97.17. The 62% FIB of $ 100 would likely cap any rise, however.
Failure to avoid a fall from the pivot level of $ 86.99 would bring the first major support level to $ 82.99 in play.
Unless there is an extended sale into the day, however, Litecoin should avoid levels below $ 80. The second major support level stands at $ 76.81
A look at technical indicators
First major support level: $ 82.99
Pivot level: $ 86.99
First major resistance level: $ 93.17
23.6% FIB retracement level: $ 45.30
38.2% FIB retracement level: $ 71
62% FIB retracement level: $ 100
Ripple’s XRP
Ripple’s XRP jumped 38.3% on Monday. Reversing a 3.56% drop from Sunday, Ripple’s XRP ended the day at $ 0.61686.
It was a mixed start to the day. Ripple’s XRP fell to an intraday low of $ 0.43266 early in the morning before moving into action.
While avoiding the first major support level at $ 0.4011, Ripple’s XRP fell through FIB 38.2% to $ 0.4392.
Finding support in the late morning, Ripple’s XRP hit an intraday high of $ 0.6200.
Ripple’s XRP broke the first major resistance level at $ 0.4951 and the second major resistance level at $ 0.5436. More importantly, Ripple’s XRP also crossed 38.2% FIB.
Despite a late pullback, Ripple’s XRP avoided sub-$ 0.61 and the second major resistance level.
As of this writing, Ripple’s XRP was down 1.24% to $ 0.60920. A mixed start to the day saw Ripple’s XRP peak at $ 0.62387 early in the morning before falling to $ 0.60500.
Ripple’s XRP left major support and resistance levels untested early on.
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