For the day ahead
Litecoin should avoid a fall from the pivot level of $ 156.64 to support a run to the first major resistance level at $ 173.29.
Support from the wider market would however be needed for Litecoin to return to levels of $ 170.
Barring a prolonged crypto rally, the first major resistance level and Monday’s $ 174.50 high would likely cap any rise.
In the event of another extended breakout, Litecoin could test resistance at $ 190 before any pullbacks. The second major resistance level is located at $ 191.14.
Failure to avoid a fall from the pivot level of $ 156.64 would bring the 23.6% FIB at $ 139 into play and the first major support level at $ 138.79.
Unless an extended sell-off, Litecoin should avoid levels below $ 130 and the second major support level at $ 122.14.
A look at technical indicators
First Major Support Level: $ 138.79
Pivot level: $ 156.64
First major resistance level: $ 173.29
23.6% FIB retracement level: $ 139
38.2% FIB retracement …
- According to the source Ripple’s Ethereum, Litecoin, and XRP – Daily Tech Analysis – January 5, 2021
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