【LTCJPY】Update of low as price sits below market level

In the post on August 11 titled “【LTCJPY】 Reverting back to the consolidation level in 2017 as well,” we noted that Litecoin was accelerating its decline while walking the band along the Bollinger Band at minus 2σ, and has now fallen to a level that is the same as the market level that had been consolidating in 2017. We stated that it could potentially reach around 350,000 yen, which serves as a support line. In reality, there was a slight downward continuation with a small lower low, but it ended yesterday with a bullish candle having a wick. Nevertheless, the Bollinger Bands are still expanding, and it appears unlikely to turn upward easily.