Home Litecoin Litecoin Price Analysis: Is this the end of an Elliott Wave formation? – FXStreet

Litecoin Price Analysis: Is this the end of an Elliott Wave formation? – FXStreet

by admin
  • Litecoin is 3.69% lower on Thursday as sentiment remains weak in the crypto market.
  • The main Elliott Wave formation is now compleated and we are close to the end of the ABC pattern.

LTC/USD 4-hour chart

Litecoin completed the 5-wave pattern marked in black.

Now the red ABC consolidation pattern is coming to an end too.

The A-B wave stopped nicely close to the 61.8% Fibonacci level.

And now the C wave is projected to complete between the 62.00 and 63.80 area.

Right now the price looks like it is stalling at the 50% Fibo level which could also be the bottom of the C wave but this is slightly uncommon.

The low also coincided with the 1.27 extension level of the B wave.

If you would like more information about Elliott Wave click here.

Additional levels

Let’s block ads! (Why?)

Source link

Related Articles

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More