• Litecoin reversed the resistance area
• Likely to fall to support level 160.00
Litecoin cryptocurrency recently reversed down with the daily Shooting Star from the resistance area located between the pivotal resistance level 190.00 (former support from the start of March), former support trendline from January and the 50% Fibonacci correction of the upward impulse from the end of January (both acting as resistance after they were broken previously by the active minor impulse wave C.
Given the deterioration of the risk sentiment seen across the cryptocurrency markets today – Litecoin cryptocurrency can be expected to fall further in the active minor impulse wave C toward the next support level 160.00 (former low of the sharp downward correction A from February).
