Litecoin, In The Channel, How A Breakout Can Finally Develop!

Hello Traders Investors And Community,

Welcome to this analysis about Litecoin, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Since Litecoin has shown up with heavy bearish volatility to the downside it somewhat managed to recover in the structure and show up with some up-moves, now I discovered worthwhile formational structures that are likely to determine upcoming movements, in this context the possibility for the main channel-breakout is also given when Litecoin shows up with the right price-actions, therefore I detected all the important levels and likely destinies we should consider within the established structure and upcoming movements.

Structural Developments:
As when looking at my chart we can watch there how Litecoin is developing this major ascending-channel-formation marked in my chart with the blue boundaries, besides that Litecoin has this coherent wave-count within the formation already formed the waves A to C in the schedule and is now setting up to form the wave D that will run directly into the confirmational-bounce-cluster marked in my chart in blue, when Litecoin manages to bounce within this cluster it will likely be the origin of the wave E to the upside that will then be the completion of the whole wave-count and will run directly into testing the upper-resistance marked in red from where the next crucial alignments will be made.

Upcoming Determinations:
Taking all these factors into considerations Litecoin is trading in a situation where it has developed some solid price-actions and now it is the time to properly build upon it and does not show up with bearish signs that can invalidate these whole movements, therefore it is highly necessary that Litecoin bounces sufficiently within the confirmational-bounce-cluster and do not close below it because such a price-action will invalidate the formation and further continuations however when Litecoin manages the bounce rightly the possibility for a continuation to the upside is very high from where Litecoin build up and form the breakout, it will be an interesting development ahead.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"The high destiny of the market is to explicate, rather than to speculate."

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