Welcome to this analysis about Litecoin, we are looking at the 12-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Litecoin moved strongly to the upside with protracted bullish volatility and formed new highs however now it moved into a decisive formation as I detected which will be worthwhile in the upcoming destinations and it is of high importance to elevate the proper price-actions before moving into the final direction, therefore I detected all the important levels and likely outcomes we should consider with Litecoins established structure and the upcoming movements ahead.
As when looking at my chart now we can watch there how Litecoin is now about to form this massive almost symmetrical triangle-formation marked in blue, besides that Litecoin has already completed the waves A to D within the coherent wave-count in the formation and now setting up to form the final wave E that will run directly into the strong upper resistance-cluster marked in my chart in red likely to show up with an initial pullback from there that will then firstly move into the lower-boundary and the decision-zone lying there marked in my chart with the orange box when Litecoin moves into this zone the final confirmation either bullish or bearish will show up from there. Taking all these factors into consideration the crucial confirmations will show up in Litecoin and as for now the bearish scenario has a greater possibility of 65% as it is marked in my chart compared to the bullish one with 35% nevertheless it is necessary to wait for the final validations before moving into this direction which will happen when Litecoin either breaks out above the upper or lower boundary.
In this manner, thank you for watching the analysis, have a good day, great contentment for everybody supporting, all the best! "There are many roads to prosperity but one must be taken."
Information provided is only educational and should not be used to take action in the markets.