Litecoin, Triangle-Formation Emerges, How A Breakout Develops!

Hi,

Welcome to this analysis about Litecoin, looking at the hourly timeframe perspective. Since other important cryptocurrencies made important breakouts above remaining resistances with sustainable bullish volatility Litecoin is still in its previously developed structure which can indicate that Litecoin will follow up with such alignments in the upcoming times. In this case, now I discovered a very important structure that Litecoin is forming that has the ability to come up with a decisive breakout and continuation to the upside, therefore I detected all the important levels and likely destinies we should consider with Litecoins established structure and the upcoming movements in the next times.

Structural Developments:
Litecoin in the more global perspectives, as well as the local perspectives, has this sideways range where it is now also developing this triangle-formation marked with the black boundaries, within this triangle-formation Litecoin has this coherent wave-count with the waves A and B already fully completed with the structure and now as Litecoin moves into the upper-boundary which is still an important resistance this is likely to be the origin of the wave C to the downside that will finalize the whole wave-count and will approach the lower levels of support mainly the confirmational-bounce-cluster marked in my chart in blue where Litecoin needs to bounce to come up with a breakout-possibility that finally moves above the upper-boundary.

Upcoming Determinations:
Taking all these factors into the consideration now Litecoin has developed a solid structure from where it has the ability to build up with proper bullish alignments when it manages to show up with the suggested price-actions, therefore it is highly necessary that Litecoin bounced from the confirmational-bounce-cluster and it is much more necessary that Litecoin does not close below this zone because such a price-action will invalidate the whole formation and will increase bearish pressure firstly with the reaching of lower levels. For now, it will be important to elevate how Litecoin approaches these further scenarios and how the formation possibly completes, it will be an interesting journey ahead.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
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Information provided is only educational and should not be used to take action in the market.