For the day ahead
Litecoin would need to avoid a fall through the 23.6% FIB of $262 and the $257 pivot level to support a run at the first major resistance level at $280.
Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $276.47.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a bounce back, Litecoin could test the second major resistance level at $300.
Failure to avoid a fall through the 23.6% FIB and the $257 pivot would bring the first major support level at $238 into play.
Barring another extended sell-off, Litecoin should steer clear of the 38.2% FIB of $217. The second major support level sits at $215.
Looking at the Technical Indicators
First Major Support Level: $238
Pivot Level: $257
First Major Resistance Level: $280
23.6% FIB Retracement Level: $250
38.2% FIB Retracement Level: $207
62% FIB Retracement Level: $138