For the day ahead
Litecoin would need to avoid a fall back through the $46.33 pivot to support another run at the first major resistance level at $47.11.
Support from the broader market would be needed, however, for Litecoin to break back through to $47 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $47.09 would likely cap any upside.
In the event of another breakout, Litecoin could test resistance at $48 before any pullback. The second major resistance level sits at $47.87.
Failure to avoid a fall back through the $46.33 pivot level would bring the first major support level at $45.57 into play.
Barring another extended sell-off on the day, however, Litecoin should steer clear of sub-$44 levels. The second major support level at $44.79 should limit any downside.
Looking at the Technical Indicators
First Major Support Level: $45.57
Pivot Level: $46.33
First Major Resistance Level: $47.11
23.6% FIB Retracement Level: $45.30
38.2% FIB Retracement Level: $71
62% FIB Retracement Level: $100
Ripple’s XRP rose by 1.07% on Monday. Consolidating a 6.50% rally from Sunday, Ripple’s XRP ended the day at $0.25055.
Tracking the broader market, Ripple’s XRP rallied to an early morning intraday high $0.25448 before hitting reverse.
Coming within range of the first major resistance level at $0.2549, Ripple’s XRP slid to a late morning intraday low $0.24657.
Steering well clear of the first major support level at $0.2364, Ripple’s XRP struck an afternoon high $0.25349.
Falling short of the major resistance levels, Ripple’s XRP slipped back to sub-$0.25 levels before finding support.
A late move back through to $0.25 levels delivered the upside on the day.
At the time of writing, Ripple’s XRP was up by 0.30% to $0.25130. A bullish start to the day saw Ripple’s XRP rise from an early morning low $0.25097 to a high $0.25152.
Ripple’s XRP left the major support and resistance levels untested early on.
Read More: Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 6th, 2020