Looking at my chart you can watch ther that litecoin just forms a little upside consolidation and recovery but as this movement is really not strong enough at the moment there is a higher possibility given that litecoin continues with another leg to the downside where it needs to allocate and test remaining support levels in the structure on vailidty. These are firstly the 100-EMA marked in red and the 200-EMA marked in black where litecoin can confirm and stablilize, otherwise when this does not happen and litecoin closes below there is the next important support between 49 and 50 which need to hold otherwise litecoin can show more downside when falling below this level which will be a crucial scenario in this structure.
Overall litecoin has potential to establish more bearishness on the short-term but there are also remaining support levels where it can stabilize, only when these supports do not hold there can be a ongoing continuation in sight. The cryptocurrency space is sending highly different signals as the spread and differences widens in the individual currencies the market isnt what it was two years ago, the divergences will increase over the next times as there is a sorting out of innovative solid projects and others which can not hold the pace similarly to stock market crashes like the dot-com-bubble in the beginning of the current century we live in. In this case it is important to differentiate the cryptocurrencies to trade them individually accordingly.
In this manner, thank you for watching, support for more market insight and have a good day!
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Information provided is only educational and should not be used to take action in the markets