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May 4, 2021 21:51 GMTCrypto News
Litecoin price stalls again at the 78.6% Fibonacci retracement of the 2017-2018 bear market.
Ascending Channel governing Litecoin price action since the fall of 2020.
IOMAP data displays minimal resistance until $350.00.
Litecoin price failure today at the critical Fibonacci level is the second time since mid-April and lowers the odds that LTC can overcome the resistance and launch a substantive test of the all-time high at $420.00.
Litecoin price in need of a dominant catalyst
The IntoTheBlock In/Out of the Money Around Price (IOMAP) data shows almost no resistance from the current Litecoin price until $350.24, which is slightly beyond the 78.6% retracement level mentioned above.