Litecoin, Managed To Bounce, Possible Next Determinations!

Hello Traders Investors And Community,

Welcome to this update-analysis about Litecoin, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. As mentioned in previous analysis Litecoin fully completed the massive ascending-wedge-formation rightly in the schedule, reached the downside targets and already managed to bounce within these zones possibly indicating a stabilization, if you did not see these analyses already I highly recommend it to watch to have a full-depth-overview, now besides these major events, I discovered meaningful signs within the structure necessary to elevate, therefore we are looking at all the important levels and likely outcomes ahead.

As when looking at my chart we can watch there how Litecoin solidly held this major ascending-trend-line in black and bounced there moving on to test the remaining resistance-line marked in red where Litecoin firstly pulled back to the downside and moving into the ascending-trend-line to bounce again within, this is a really strong support Litecoin has built here and when it manages to hold this support this can be the indication for higher levels of resistance to be tested upcoming times. Therefore we can expect Litecoin to test the ascending-trend-line anew the next times and when this trendline then holds again Litecoin will move on to the higher resistances and possibly mark above them as it is shown within my chart. Taking all these factors into consideration it is of high importance that Litecoin really holds the ascending-trend-line and bounces there to stabilize above sustainably otherwise when this does not happen and Litecoin increases with bearish pressure to move below the trend-line this will continue up with bearish pressure ahead within the bearish-continuation-zone marked in my chart. For now, it is necessary to keep patient and wait for the proper validations before moving into the final direction, it will be an interesting development.

In this manner, thank you for watching the analysis, have a good day, and of course good trading, all the best!
"Good luck is when opportunity meets preparation."

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