Litecoin Breaks Through Support

Litecoin has been quite bearish, along with the rest of the pack. It has broken through support from the lower bound of the KRI and seems reluctant to retrace. Currently, it appears to be finding some meager support from levels at $162. Beyond that, we have Fibonacci and nested Fibonacci support at $130 and $117. From above, $200 is a major psychological and technical level to break, and the central moving average of the KRI at $225 seems light years away, but we will have to break through this before we hit $236, another nested Fibonacci level. We have solace in the fact that this appears to be wave 2 of the impulse of the Elliott Wave, a minor corrective segment, though we're wrong if we break $136.

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