1) It bounces off the first up trending support line at some where around $230 and move above previous All Time High . (Most Likely) This correlates strongly with BTC
2) It fails bouncing off around $230 and downtrends to hit the second up trending support line which results in a bounce at around $180 towards previous All Time High. (Likely)
3) It even fails to bounce off the 2nd up trending support line and downtrends to around $135 and then bounce back up swiftly towards previous All Time High. (Unlikely)
has been forming for LTCUSD for some time over and over and most of them have proven to be false.
With almost the completion of E wave ( ABCDE) along the consolidation a major bull run can be expected shortly for LTCUSD possibly taking it to around $420 - $500.
I'll not be surprised to see litecoin getting carried away all the way to $600+ with the kind of interest and fomo that has kicked in into crypto recently.
Thanks for your time.
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Disclaimer: This analysis is just my opinion and must not be considered as Financial Advice.