Litecoin, Test Of Remaining Levels Still Ahead!

Hello Traders Investors And Community, welcome to this update-analysis where we are looking at litecoin 4-hour timeframe perspective, the recent events, the current formational structure, what to expect next times, and how to handle possible upcoming volatilities correctly. Since the last time litecoin confirmed its bearish breakdown below the support line and EMA further with a protracted bearish move which not directly reached the lower rising blue support line but stopped before to make some little up bounces in the structure, this was also expected, now it is important to see when litecoin continues to move to the rising blue trendline or what unlikely at the moment holds the support to move higher. In this case, I detected the meaningful levels and scenarios we should consider now in order to illuminate the situation right to do not get overwhelmed by circumstances.

Looking at my chart you can watch there that litecoin is now trading above the 30-EMA which is preliminary support from where litecoin can move some higher in the structure, nevertheless, it has strong resistance levels in the range here coming together in the zone marked in red within my chart and the rising trendlines, this range serves as strong resistance here and it will highly likely confirm as those when the price touches this area, there is a possibility that the price moves above and holds sustainable to form another leg to the upside nevertheless this possibility is currently highly marginal and the bearish case should be more expected overall. This case will confirm when litecoin moves into the bearish zone and bounced from there to move below the lower boundary of this channel which will confirm the next price-action to move below the 30-EMA and test the rising blue trendline.

On the higher perspective, litecoin establishes a range here where it has to prove if the lower support levels can behold sustainably and where and how a possible continuation can occur, that litecoin shows bearishness on the short-term does not necessarily mean it is also the case on the middle or long-term-outlooks. Compared to the other currencies where the individual sending mixed signals at the moment litecoin can show up with more bearishness than usually expected which is building a contra part to other currencies where strong support levels lying in the range and the price-action looks more bullish than bearish overall, we will see how this dynamic will develop in litecoin here, for a bullish recovery and continuation it is highly important that litecoin holds the blue rising trendline sustainable because when it falls below this will increase bearish pressure highly and will point ot lower levels in the structure.

In this manner, thank you for watching, support for more market insight, all the best!
"Trading effectively is about assessing possibilities, not certainties."

Information provided is only educational and should not be used to take action in the markets.