LTC/USD Consolidating After Dropping to Key Fibonacci Level

Litecoin was not immune from the cryptocurrency bloodbath this week. It dropped 50% from its all-time high and confirmed below the daily Ichimoku cloud. Here is a quick overview.
LTC/USD Price Action
After reaching the all-time high level of $420 in mid-December, LTC/USD started a brand new downtrend. It has been mainly supported by the 76% Fibonacci retracement level of $163, as it tested it once in December and twice in the past week.
LTC/USD-Price-Action
It has also confirmed below the daily