• Litecoin broke support level 240.00
• Likely to fall to support level 192.00
Litecoin cryptocurrency continues to fall after the earlier breakout of the key support level 240.00 (former multi-month high from September), support trendline from October and the 50% Fibonacci correction of the upward impulse wave C from September. The breakout of the support level 240.00 accelerated the active minor impulse wave 1 of the higher order intermediate impulse wave (C).
Given the strong worsening of the risk sentiment seen across the cryptocurrency markets today, Litecoin cryptocurrency can be expected to fall further toward the next support level 192.00.