Ripple (XRP), Litecoin (LTC) Daily Technical Analysis – 26 August

After the bullishness that the market printed during the mid-week sessions, crypto coins need to keep away today’s pivot levels and revisit yesterday’s highs to avoid the red zone.

Litecoin

Wednesday lucrative price movements had LTC rising by 2.58, reversing Tuesday’s 7.18% losses. With that, the altcoin ended its trading day at $177.87.

Meanwhile, early sessions yesterday saw the altcoin falling to $169.21 intraday lows before price moves.

However, the asset rallied to $178.95 after avoiding the initial support near $168.

As the coin failed to challenge the resistance at $184, LTC plunged towards the 23.6% Fibonacci of $178.

Another pullback towards the day end had the coin dropping to 23.6% Fibonacci, ending yesterday at $177 price zones.

While publishing this coin, Litecoin trades at $178.52 after surging 0.37%. However, unpredictable early sessions saw the crypto falling to $176.85 lows before climbing to $178.69.

LTC’s Day Ahead

For now, the alt has to prevent breaching the pivot at $175 (23.6% Fibonacci) to test the day’s resistance at $182.

Meanwhile, upside movements will necessitate broader market backing. That way, LTC will have a clear path to overcome the $178 levels.

Without a broader-based rally, the altcoin will have the initial resistance preventing any uptrend.

Technical Indicators

  • Support – $172
  • Resistance – $182
  • Pivot – $175
  • 6% Fibonacci retracement – $178
  • 2% Fibonacci retracement – $223
  • 62% Fibonacci retracement – $296

Ripple

On Wednesday, Ripple’s XRP surged 3.37%. After a slight reversal of Tuesday’s 8.63% plunges, the coins ended yesterday near $1.17400.

Meanwhile, mixed morning sessions witnessed XRP falling to $1.10831. However, the coin climbed to intraday highs of $1.7773 after staying away from the $1.0840 initial support.

The failure to overcome the initial resistance at $1.2274 had Ripple’s token falling to end the trading day near a sub-$1.18 area.

While writing this content, XRP traded at $0.18200 after gaining 0.68%. Meanwhile, the coin plunged to $1.16849 before climbing to $1.18513.

XRP’s Day Ahead

XRP has to avoid the pivot at $1.1533 to test the initial resistance at $1.1984. The asset will have to take advantage of any positive sentiments to explore higher price levels.

Technical Indicators

  • Support – $1.1290
  • Pivot – $1.1533
  • Resistance – $1.1984
  • 6% Fibonacci retracement – $0.8533
  • 2% Fibonacci retracement – $1.0659
  • 62% Fibonacci retracement – $1.4096

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