VincePrince

Litecoin, On The Verge To A Final Continuation-Confirmation!

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Hi my friends,

Welcome to this update-analysis about Litecoin, we are looking at the 2-hour timeframe perspective, as mentioned in previous analysis Litecoin has still strong resistance-layers lying above where it is now mingling at and comes not above them, this is why the bearish sight should not be underestimated here as Litecoin is still trading within this huge ascending-channel-formation and already completed its wave-count within the wedge-formation, besides that Litecoin has this important descending-resistance-line marked in black in my chart where it has resistance in the structure which is likely to confirm also as resistance when touched in this area. The next times there is a high possibility given that Litecoin completed this preliminary significant ascending-wedge-formation bearishly to the downside that will happen when Litecoin moves below the lower boundary and closes there to move on with bearish continuations.

The final bearish continuation-confirmation will happen when Litecoin moves below the 35-EMA marked in green and the 55-EMA marked in red to close below the 55-EMA as it is marked in my chart this will be the final confirmation for more downside ahead and increased bearish price-action till support is found that can reverse this dynamic again, this support will be within the 72 USD range where Litecoin also has the targets lying when the wedge confirmed. When Litecoin reaches these initial downside-targets it has to be elevated how it will continue from there and if there an be a possible reversal incoming or Litecoin continues with the bearish pressure further ahead. Globally speaking Litecoin is still in a more bullish state and this can be an opportunity for accumulation in the structure before new waves show up on the more global perspective, it will be an important and interesting development further.

In this manner friends, thank you, everybody, for watching, supports for more market insight will be great, have a good day and good weekend as well!
"Prospect is the ingredient of good fortune"

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

►🔥JOIN MEXC Global - Top Exchange: 🌟2,050 Bonus + 0.00% Maker Fee + Time Giveaways: 📲Only Through My Link: https://promote.mexc.com/a/VincePrince
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.