For the day ahead
Litecoin would need to avoid a fall through the $204.83 pivot level to support a run at the first major resistance level at $223.07.
Support from the broader market would be needed, however, for Litecoin to breakout from Monday’s high $220.00.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at the swing hi $230.81 and the second major resistance level at $238.25.
Failure to avoid a fall through the $204.83 pivot level would bring the first major support level at $189.65 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$180 and the second major support level at $171.41. The 23.6% FIB of $182 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $189.65
Pivot Level: $204.83
First Major Resistance Level: $223.07
23.6% FIB Retracement Level: $182
38.2% FIB Retracement Level: $152
62% FIB Retracement Level: $104