$LTC Litecoin PT 600 and higher, Long Term...
Litecoin rose by 2.93% on Thursday. Following on from a 0.58% gain on Wednesday, Litecoin ended the day at $202.67.
A mixed start to the day saw Litecoin fall to a mid-morning intraday low $194.14 before making a move.
The morning pullback saw Litecoin fall through the 23.6% FIB of $195 before striking a mid-afternoon intraday high $204.95.
Litecoin broke through the first major resistance level at $202 before a slide back to $196 levels.
Steering clear of the 23.6% FIB, Litecoin bounced back to end the day at $202 levels.
At the time of writing, Litecoin was up by 0.29% to $203.26. A mixed start to the day saw Litecoin fall to an early morning low $201.62 before rising to a high $203.74.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $201 pivot level to support a run at the first major resistance level at $207.
Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $204.95.
Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $211.
Failure to avoid a fall through the $201 pivot level would bring the first major support level at $196 and the 23.6% FIB of $195 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$190 levels. The second major support level at $190 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $196
Pivot Level: $201
First Major Resistance Level: $207
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
A mixed start to the day saw Litecoin fall to a mid-morning intraday low $194.14 before making a move.
The morning pullback saw Litecoin fall through the 23.6% FIB of $195 before striking a mid-afternoon intraday high $204.95.
Litecoin broke through the first major resistance level at $202 before a slide back to $196 levels.
Steering clear of the 23.6% FIB, Litecoin bounced back to end the day at $202 levels.
At the time of writing, Litecoin was up by 0.29% to $203.26. A mixed start to the day saw Litecoin fall to an early morning low $201.62 before rising to a high $203.74.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to avoid a fall through the $201 pivot level to support a run at the first major resistance level at $207.
Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $204.95.
Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely cap any upside.
In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $211.
Failure to avoid a fall through the $201 pivot level would bring the first major support level at $196 and the 23.6% FIB of $195 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$190 levels. The second major support level at $190 should limit the downside.
Looking at the Technical Indicators
First Major Support Level: $196
Pivot Level: $201
First Major Resistance Level: $207
23.6% FIB Retracement Level: $195
38.2% FIB Retracement Level: $163
62% FIB Retracement Level: $110
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