For the day ahead
Litecoin would need to avoid a fall through the $154.00 pivot level to support a run at the first major resistance level at $172.50.
Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $164.98.
Barring an extended crypto rally, the first major resistance level and resistance at $175 would likely cap any upside.
In the event of another extended breakout, Litecoin could test resistance at $190 before any pullback. The second major resistance level sits at $183.48.
Failure to avoid a fall through the $154.00 pivot level would bring the first major support level at $143.02 into play before any recovery.
Barring an extended sell-off on the day, however, Litecoin should steer clear of the 23.6% FIB of $132. The second major support level sits at $124.52.
Looking at the Technical Indicators
First Major Support Level: $143.02
Pivot Level: $154.00
First Major Resistance Level: $172.50
23.6% FIB Retracement Level: $132
38.2% FIB Retracement Level: $112
62% FIB Retracement Level: $79