Litecoin has stayed true to the trajectory that has been mapped out in the last few months. Presently, it is testing the 85.23 goal and there is likely to be a retracement/consolidation towards the 79.68 support area and perhaps even a further retreat to the bottom of wave iv/ at.
It is clear from the four-hour TF that bitcoin has achieved its previous peak close to the $18,500 mark. There is sufficient evidence for a decrease to take place at present. Before, the rate climbed up to a specific level before declining abruptly. The timing is good for a downward.
Litecoin continues to move up in line with expectations and has recently broken through 42.22 once again. We don’t expect the current rise to proceed in a straight line, so we don’t expect any additional consolidations in the immediate future. A temporary consolidation is anticipated in the coming days before.