For the day ahead
Litecoin would need to move back the $274 pivot level to support a run at the first major resistance level at $306.
Support from the broader market would be needed, however, for Litecoin to break back through to $300 levels.
Barring an extended crypto rally, the first major resistance level and Sunday’s high $305.33 would likely cap any upside.
In the event of a bounce back, Litecoin could test resistance at $320 before any pullback. The second major resistance level sits at $338.
Failure to move back through the $274 pivot level would bring the 23.6% FIB of $262 and the first major support level at $242 into play.
Barring an extended sell-off, Litecoin should steer clear of the the second major support level at $209. The 38.2% FIB of $217 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $242
Pivot Level: $274
First Major Resistance Level: $306
23.6% FIB Retracement Level: $250
38.2% FIB Retracement Level: $207
62% FIB Retracement Level: $138