Welcome to this update-analysis about Litecoin, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure, and what we can expect the upcoming times. As mentioned in previous analysis Litecoin has built this major ascending-channel which was likely to complete as a bear-flag which then also finally happened and Litecoin moved on to form the second formation within the schedule, the ascending-triangle which also recently completed bearishly, all this giving Litecoin the edge here and therefore I detected all the important levels and likely outcomes we should consider with Litecoins established structure and the upcoming destinies.
As when looking at my chart we can watch there how Litecoin now fully completed this ascending-wedge-formation bearishly to the downside with these strong moves to the point in which it is trading now. Currently, we can expect the pace to move on and continue as there is so much evidence given, the big question then will come how Litecoin further continues when it moves into the lower support and possibly bounces from there, in any case, the perspective should not be underestimated here and especially when Litecoin increases with further pace after moving into the targets and do not manages to stabilize from there this can indicate further pressure continuation. For now, it will be important to elevate how XRPUSD reacts to these supports and how it will move on further from there, it will be an interesting development.
In this manner, thank you for watching the analysis, have a good day, great contentment for everybody supporting, 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.
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