Litecoin (LTC) Fights for Continuation of Bullish Trend

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In Brief
  • The main resistance & support levels for Litecoin are found at $64 and $49, respectively.

  • The price is following a short-term descending resistance line that coincides with the minor $56 resistance level.

  • The price is possibly in the fourth wave of a five-wave Elliott formation, expected to end between $46-$50.

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The Litecoin (LTC) price has been correcting since a sharp rejection from $65 on Aug 2. Until the price is able to break out from the short-term resistance levels that we will outline below, LTC's movement is likely to be corrective. Litecoin Resistance and Support Levels On July 27, Litecoin was finally able to break out above the $49 area, which had been providing resistance since
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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