• Litecoin broke resistance area
• Likely to rise to resistance level 175.00
Litecoin cryptocurrency recently broke the resistance area lying between the key resistance level 150.00 (former strong support from May and June – which has been reversing the price from the start of July). The breakout of this resistance area accelerated the active minor impulse wave b of the higher-order ABC correction (2) from the start of May.
Given the improvement in risk sentiment as seen across the cryptocurrency markets today – Litecoin cryptocurrency can be expected to rise further toward the next resistance level 175.00 (which also previously reversed the price in the middle of July).