Litcoin Suffers Setback

Litecoin got hit hard by the selling frenzy as evidenced by the extremely long wick in the day candle. It finally found support at $162, a nested Fibonacci level. It is likely that the corrective phase has completed, unless we push past $162, which is unlikely. Investors should be advised that LTC is still extremely weak as are most Cryptos at this point. At the time of this writing we are currently finding support below the central moving average of the KRI at $200.

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