For the day ahead
Litecoin would need to avoid a fall through the $176.95 pivot level to support a run at the first major resistance level at $189.68.
Support from the broader market would be needed, however, for Litecoin to break out from the 10th January swing hi $186.34.
Barring an extended crypto rally, the first major resistance level and resistance at $190 would likely cap any upside.
In the event of an extended breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $197.43.
Failure to avoid a fall through the $176.95 pivot level would bring the first major support level at $169.20 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$160 levels. The second major support level sits at $156.47.
Looking at the Technical Indicators
First Major Support Level: $169.20
Pivot Level: $176.95
First Major Resistance Level: $189.68
23.6% FIB Retracement Level: $148
38.2% FIB Retracement Level: $125
62% FIB Retracement Level: $87
Tags: Litecoin price