Litecoin fell by 3.15% on Monday. Following on from a 1.49% decline on Sunday, Litecoin ended the day at $244.35.
A bullish start to the day saw Litecoin rise to a late morning intraday high of $258.69 before hitting reverse.
Falling short of the first major resistance level at $261, Litecoin fell to a mid-afternoon intraday low of $240.14. Litecoin fell through the first major support level at $246 before briefly revisiting $247 levels late in the day.
A bearish end to the day, however, saw Litecoin fall back through the first major support level to end the day at $244 levels.
At the time of writing, Litecoin was up by 0.75% to $246.19. A bullish start to the day saw Litecoin rise from an early morning low of $244.33 to a high of $246.24.
Litecoin left the major support and resistance levels untested early on.
For the day ahead
Litecoin would need to move through the $248 pivot level to support a run at the first major resistance level at $255.
Support from the broader market would be needed, however, for Litecoin to break out from $250 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $258.69 would likely cap any upside. In the event of an extended rally, Litecoin could test resistance at $270 before any pullback. The second major resistance level sits at $266.
Failure to move through the $248 pivot level would bring the first major support level at $237 into play.
Barring an extended sell-off, Litecoin should steer well clear of the second major support level at $229.
