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Litecoin corrects down from pivotal resistance level 73

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Litecoin cryptocurrency under the bearish pressure after the price reversed down from the resistance zone located between the pivotal resistance level 73.00 (which has been reversing the pair from the middle of May), upper 4-hour Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward impulse from last month. The downward reversal from this resistance zone stopped the previous wave (ii).

Given the strength of the aforementioned resistance zone – Litecoin cryptocurrency can be expected to fall further toward the next round support level 70.00. If the price breaks above 73.00 – Liteocin can then test the next resistance level 75.00.

Last Updated: May 23, 2022

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Litecoin corrects down from pivotal resistance level 73

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