For the day ahead
Litecoin would need to move through the $224 pivot level to support a run at the first major resistance level at $238.
Support from the broader market would be needed, however, for Litecoin to break back through to $230 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $242.96 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $250 before any pullback. The second major resistance level sits at $256.
Failure to move through the $224 pivot level would bring the first major support level at $206 into play.
Barring another extended sell-off, Litecoin should steer clear of the 23.6% FIB of $195. The second major support level sits at $193.
Looking at the Technical Indicators
First Major Support Level: $206
Pivot Level: $224
First Major Resistance Level: $238
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
The 23.6% FIB of $0.8960 delivered support late in the day.