For the day ahead
Litecoin would need to avoid a fall through the $209 pivot level to support another run at the first major resistance level at $216.
Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $214.71.
Barring an extended crypto rally, the first major resistance level and resistance at $220 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $230 before any pullback. The second major resistance level sits at $221.
Failure to avoid a fall through the $209 pivot level would bring the first major support level at $204 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$200 levels. The second major support level sits at $196.
Looking at the Technical Indicators
First Major Support Level: $204
Pivot Level: $209
First Major Resistance Level: $216
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
Tags: Litecoin price