Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Litecoin Forum => Other Popular Cryptos / Coins => Litecoin News & Updates => Topic started by: AlviNess on June 14, 2021, 07:39:59 AM
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Litecoin fell by 3.23% on Friday. Following on from a 2.69% decline on Thursday, Litecoin ended the day at $162.90.
A mixed start to the day saw Litecoin rise to an early morning intraday high $173.76 before hitting reverse.
While falling short of the first major resistance level at $180, Litecoin tested resistance at the 62% FIB of $174.
The reversal saw Litecoin slide to a late intraday low $160.58.
Litecoin fell through the first major support level at $162 before ending the day at $162 levels.
At the time of writing, Litecoin was down by 1.09% to $161.12. A mixed start to the day saw Litecoin rise to an early morning high $163.04 before falling to a low $161.11.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $166 pivot to bring the first major resistance level at $171 and the 62% FIB of $174 into play.
Support from the broader market would be needed, however, for Litecoin to break out from $165 levels.
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 $179.
Failure to move through the $166 pivot would bring the first major support level at $158 into play.
Barring another extended sell-off, however, Litecoin should steer clear of sub-$150 levels. The second major support level at $153 should limit the downside.
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: $158
Pivot Level: $166
First Major Resistance Level: $171
23.6% FIB Retracement Level: $322
38.2% FIB Retracement Level: $265
62% FIB Retracement Level: $174more information (https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/ethereum-litecoin-ripple-xrp-daily-001442589.html)