For the day ahead
Litecoin would need to move through the $127.98 pivot level to support a run at the first major resistance level at $132.77.
Support from the broader market would be needed, however, for Litecoin to break back through to $130 levels.
Barring an extended crypto rally, the first major resistance level and Friday’s high $134.22 would likely cap any upside.
In the event of another extended breakout, Litecoin could test resistance at $140 before any pullback. The second major resistance level sits at $139.01.
Failure to move through the $127.98 pivot level would bring the first major support level at $121.74 into play before any recovery.
Barring an extended sell-off on the day, however, Litecoin should steer clear of the second major support level at $116.95.
Looking at the Technical Indicators
First Major Support Level: $121.74
Pivot Level: $127.98
First Major Resistance Level: $132.77
23.6% FIB Retracement Level: $112
38.2% FIB Retracement Level: $96
62% FIB Retracement Level: $69