For the day ahead
Litecoin would need to move through the $158 pivot to bring the first major resistance level at $166 into play.
Support from the broader market would be needed, however, for Litecoin to break back through to $160 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $167.39 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at and the 62% FIB of $174. The second major resistance level sits at $175.
Failure to move through the $158 pivot would bring the first major support level at $149 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$140 levels. The second major support level at $142 should limit the downside.
A sustained fall through the 62% FIB of $174 would form a near-term bearish trend from 10th May’s swing hi $413.91.
Looking at the Technical Indicators
First Major Support Level: $149
Pivot Level: $158
First Major Resistance Level: $166
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174