For the day ahead
Litecoin would need to avoid a fall through the $226.22 pivot level to support a run at the first major resistance level at $248.91.
Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s new swing hi $237.59.
Barring an extended crypto rally, the first major resistance level and resistance at $250 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $270 before any pullback. The second major resistance level sits at $260.29.
Failure to avoid a fall through the $226.22 pivot level would bring the first major support level at $214.84 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$200 and the second major support level at $192.15.
Looking at the Technical Indicators
First Major Support Level: $214.84
Pivot Level: $226.22
First Major Resistance Level: $248.91
23.6% FIB Retracement Level: $187
38.2% FIB Retracement Level: $156
62% FIB Retracement Level: $106
The 23.6% FIB of $0.5320 delivered support late in the day.
Tags: Litecoin price