Litecoin, Major Flag-Formation, Here Is How It Completes!

Hello Traders Investors And Community,

Welcome to this analysis about Litecoin, we are looking at the hourly timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Litecoin the last times has shown up with some fundamental important price-actions as it managed to form new highs within the schedule and as I discovered now Litecoin is developing a decisive formation that can lie ground for further continuations and increase of volatility when Litecoin shows up with the right price action, this is always important within the cryptocurrency market to look at the likely setups that have a high possibility, therefore I detected all the important levels and likely perspectives we should consider here.

As when looking at my chart we can watch there Litecoin is now trading within this channel-formation marked in my chart with the blue boundaries, besides that Litecoin is trading above the EMAs and also above the point-of-control by the volume profile marked in red serving as strong support within the structure. Currently, Litecoin is about to form the wave C with this potential bull-flag and when it shows up with the confirmational price-action bouncing above the upper-boundary this will emerge the wave C and activate the upside-targets seen in my chart marked with the orange level, therefore it is necessary that Litecoin does not increase with bearishness again and falls to lower levels below the boundaries because this would invalidate the formation. Taking all these factors into consideration now Litecoin is trading in a great constellation, especially when it manages to complete this channel-formation bullishly and activate the upside targets. After these are reached it has to be elevated if Litecoin manages to advance further or firstly shows up with a reversal, the reversal, in this case, is not unlikely as Litecoin will approach overbought conditions and also global resistances, it will be an important and interesting development.

In this manner, thank you for watching the analysis and for everybody supporting it is great contentment, have a good day and trading!
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Information provided is only educational and should not be used to take action in the markets.