LTC / USD
Litecoin’s price fell from Saturday’s high when it climbed 35.8% to $ 247, to its lowest point of the week recorded at $ 158.56 on Tuesday. After that, there was a slight recovery as the price rallied to $ 190, but has since bounced back and is currently just below $ 180.
On the hourly chart, you can see that the Litecoin price fell to the 0.236 Fibonacci level, which was the horizontal resistance point of the previous high recorded on January 10. The price has dipped below it, which may serve as an early sign that the previous uptrend is over, but it managed to get back above it again and is currently testing it for support. If support is confirmed at these levels, we will see further continuation of the upward impulse wave that began on January 27.
However, if the price continues to move downward and enters the lower range, it will be a clear sign that the Litecoin price has ended its previous impulsive move and is now moving towards a higher level correction, in which the fall since last Saturday was only the 1st sub-wave. READ CONTINUED IN THE COMPANY BLOG