for the next day
Litecoin will need to move across the $166 pivot to fetch the first major resistance at $171 and the 62% Fib of $174.
Support from the broader market will be needed, however, for Litecoin to break out of $165 levels.
Barring an extended rally for the cryptocurrency, the first major resistance level and 62% FIB is likely to block any uptrend.
In the event of an extended breakout, Litecoin could test the resistance at $190. The second major resistance level is located at $179.
A failure to move across the $166 pivot will trigger the first major support level to appear at $158.
Barring another extended sell off, Litecoin should move away from levels below $150. The second major support level at $153 should limit the downside.
Continued decline through 62% FIB of $174 would form a downtrend near 10y May’s swing is $413.91.
Looking at technical indicators
First Major Support Level: $158
Pivot level: $166
First major resistance level: $171
23.6% Fib Retracement Level: $322
38.2% Fib Retracement Level: $265
62% Fib Retracement Level: $174
XRP is down 2.85% on Friday. After dropping 5.80% on Thursday, XRP finished the day at $0.84,400.
After a mixed start to the day, XRP of Ripple climbed to an afternoon high at $0.87937 before reversing in the opposite direction.
After dropping below the first major resistance at $0.9149, Ripple’s XRP slipped to an intraday low of $0.83459.
Ripple’s XRP is down 62% FIB at $0.8573 and the first major support at $0.8374.
However, after finding late support, Ripple’s XRP once again broke through the first major support level to end the day at $0.84 levels.
At the time of writing, XRP is down 0.25% to 0.84188. A bearish start to the day saw Ripple XRP drop from the early morning high of $0.84672 to $0.84188.
Ripple’s XRP left key support and resistance levels untested early on.