For the day ahead
Litecoin would need to avoid a fall back through the $168 pivot to bring the 62% FIB and the first major resistance level at $174 into play.
Support from the broader market would be needed, however, for Litecoin to break out from the morning high $170.20.
Barring an extended crypto rally, the first major resistance level and the 62% FIB would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $190. The second major resistance level sits at $181.
A fall back through the $168 pivot would bring the first major support level at $162 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $156.
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: $162
Pivot Level: $168
First Major Resistance Level: $174
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174