For the day ahead
Litecoin would need to avoid a fall through the $182 pivot to bring the first major resistance level at $197 into play.
Support from the broader market would be needed, however, for Litecoin to break out from Tuesday’s high $194.89.
Barring an extended crypto rally, the first major resistance level and resistance at $200 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $220. The second major resistance level sits at $210.
Failure to avoid a fall through the $182 pivot would bring the 62% FIB of $174 and the first major support level at $169 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $155.
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: $169
Pivot Level: $182
First Major Resistance Level: $197
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174