LTC/USDT: Last drop expected before bullish reversal

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

LTC/USDT: Last drop expected before bullish reversal

Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets LTC suffered about negative global market situation.
- As the BTC, LTC is expecting to shape a last drop before engaging the bullish reversal


Market configuration

- Graphical Elements :
Graphical Resistance = 89 & 145 & 248
Graphical Support = 55,5 & 22,2

- Mathematical Indicators:
EMA ( Exp Moving averages) are still capping the market at 89 = Bearish
RSI indicator (below) is still showing room to the downside without divergence = Bearish

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target C (B) is set at = 50,50
Fibonacci resistance of the wave in progress = 89
Fibonacci support of the wave C (B)(max extension) = 41,80
Fibonacci Bullish Target = 145


Conclusion

Preferred case => Regarding the mid-term element, LTC as the BTC is about to shape the last push down in order to exhaust the bearish momentum then a bullish reversal is expected holding above 41,8 towards 89 and 145

Alternative cases => Breaking 41,8 a significant drop will open the door towards 22,2 max 11,5