Litecoin, Develops Main Wedge-Formation, How It Completes!

Hello Traders Investors And Community,

Welcome to this analysis about Litecoin, we are looking at the 6-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Litecoin was a cryptocurrency that showed up with heavy downside volatility within the last times especially exaggerating and protracting to the downside where it now tests remaining structures of support, besides that I discovered a decisive formation Litecoin is now forming that is likely to be the main source within the upcoming developments when Litecoin shows up with the proper price-actions, therefore I detected all the important levels and likely destinies we should consider with Litecoin in the established structure and upcoming movements.

Structural Developments:
As when looking at my chart we can watch there how Litecoin is trading within this huge potential descending-wedge-formation, furthermore Litecoin has the coherent wave-count within the formation with the waves A to C almost already developed and with the wave D now establishing which is running directly into the upper-boundary from which is likely to be the origin of the wave E to the downside that will finalize the whole wave-count and run directly into this major back-up-cluster marked in my chart in blue, this zone will be extremely crucial for Litecoin because it needs to properly bounce within this zone to form a solid breakout above the upper boundary of the formation and show up with further continuations ahead upcoming times.

Upcoming Determinations:
Taking all these factors into consideration Litecoin is trading within a structure that can show up with a potential reversal in the schedule when it manages to maintain the proper price-actions, when this happens and Litecoin shows up with the breakout as it is marked in my chart and complete the whole formation this will lead to the further continuation of bullishness and testing of higher levels. The next times it will be important to elevate if Litecoin manages to show up with the right price action, mainly it is necessary to not invalidate the whole formation with bearish pressure below the supports however this is currently not the most likely possibility and the potential wedge-confirmation should be more expected.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Good luck is when opportunity meets preparation."

Information provided is only educational and should not be used to take action in the market.