Litecoin Technical Analysis Report 9 August, 2021

• 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).

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