We can consider the latest failed attempt to break the upper as the strongest confirmation signal of a . Soon price should drop down toward 240 USD or so.
While almost all will scream about a catastrophic scenario, I am sure this is the best signal we may have that LTC will head soon toward a new ATH .
This failed break out is just a confirmation of a simmetrical triangle consolidation pattern (wich I've drawn with blue line and blue wave count). This is simply a D wave of an a, b, c, d, e triangle. Another wave down will be expected before the true break out.
If LTC'd have broken out from the blue upper , most likely it would have bounced against the upper red , at around 300 USD, wich marks a triangle ( marked in red with red waves count).
Seems it's only matter of waiting a couple of days more before LTC will start rising again. This could be the time to start plannig your buy orders.
Seems LTC is now forming a , so wave e should start soon. Anyway we shall wait a couple of hours more to have a definitive confirmation.
Target 470 USD or higher in the short term.
Anyway, if price'd break under of the line, that not necessarily would mean a bearish scenario. It could just indicate a different type of correction.