Litecoin, Approaching Remaining Level, Continuation Possible!

Hi my friends,

Welcome to this analysis about litecoin 4-hour timeframe perspective which is showing quite some interesting signs at the moment, the cryptocurrency market is in a decisive phase where it has to decide either it manages to stay in the ranges or visit lower levels where we have big divergences between the carious currencies some looking rather bullish while others looking for more possible pull-backs ahead so also is litecoin in a situation where some factors coming together here forming the next outcomes, as of time writing litecoin shows already volatility into the direction, we will see how opportunities developing here.

Looking at my chart you can watch there that litecoin just confirmed below its established uptrend-channel marked in orange which was firstly a stronger measurement indicating a continuation in the bearish direction, furthermore, it had a rising trendline marked in grey and the 50-EMA marked in green which were important supports now confirmed to the downside. The next times we can expect litecoin to test this cluster again and confirmed it to the downside, it is possible that litecoin moves above these levels but this possibility is at the moment quite marginal, a higher possibility is given here for a continuation till stable support is found based on the mentioned factors. The next strong support litecoin has here in the structure is at the rising blue trendline marked in my chart where stabilization of price is possible therefore it has to be elevated how litecoin reacts in this level and if a bounce shows up or further declines will follow.

In this manner, thank you for watching, support for more market insight, all the best!
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Information provided is only educational and should not be used to take action in the market.