My previous post on Litecoin (LTCUSD) to track its progression can be found here:
Litecoin (LTCUSD) in the analysis was expected to produce one more sell off before resumption in the uptrend. Instead it produced a bullish trend upwards which is been determined in this analysis as a 5 wave progression. The price of Litecoin (LTCUSD) at ~$179.89 on May 5, 2018 is believed to have terminated an impulse trend.
The favored region of target for support is the 4th wave of the previous degree which is ~ $143.05. This also coincides with a support region for Litecoin (LTCUSD) as indicated by the horizontal blue lines between $143.05 and $139.16.
Support 1 and Support 2 from the previous post are also outlined here which is where Litecoin (LTCUSD) would be expected to find support should a further break down in price occur below $139.16.
The point of invalidation of this analysis is a price close above ~$181.00.
Litecoin (LTCUSD) in the analysis was expected to produce one more sell off before resumption in the uptrend. Instead it produced a bullish trend upwards which is been determined in this analysis as a 5 wave progression. The price of Litecoin (LTCUSD) at ~$179.89 on May 5, 2018 is believed to have terminated an impulse trend.
The favored region of target for support is the 4th wave of the previous degree which is ~ $143.05. This also coincides with a support region for Litecoin (LTCUSD) as indicated by the horizontal blue lines between $143.05 and $139.16.
Support 1 and Support 2 from the previous post are also outlined here which is where Litecoin (LTCUSD) would be expected to find support should a further break down in price occur below $139.16.
The point of invalidation of this analysis is a price close above ~$181.00.