Bulls Pushing Litecoin Towards 100 Zone – Elliott wave Analysis

Intermediate

Hello traders,

Litecoin is already rising in an impulsive fashion within five waves, which suggests that the bottom at 22.50 level can be in place. That being said, we are probably in a wave 3 and there can be room for more gains, towards 105-115 area, where price may slow down into a wave 4 correction before a new continuation higher for wave 5.

For the survival of the bulls, price must stay above 40.20 invalidation level.

Litecoin, Daily

Litecoin

Now swithcing to the 4h chart of litecoin, we can see that the mentioned cryptocurrencie made an extended wave towards 100 area, which we labeled it as part of a wave “iii”/3, so current consolidation can be part of a corrective wave “iv”. This wave ”iv” can send price even higher towards 105 – 115 area for wave “v”/3, where bulls may slow down again into wave 4 of a higher degree. That being said, we remain bullish as long as price keeps trading above 42.20 invalidation level.

Litecoin, 4H

Litecoin 4h

Latest News

SP500
Equities stay bullish and US$ soars, sending EURUSD bear signal

A resilient consolidation tone for the major European equity averages over the past 24 hours, digesting solid gains to new 2019 cycle highs earlier this week, whilst the US benchmark average, the S&P 500, has stayed solid after soaring close to the record high from 2018.  The current “risk on” phase for equities has been … Continued

eurusd
EURUSD and USD Index Intra-day Movement – Elliott wave Analysis

EURUSD is sharply dropping, down from 1.122 swing high which can be labelled as a sub-wave 5 of one, with possible support region around the 1.1180 region (Fibonacci ratios of 423.6 and 138.2 can react as support), from where a temporary three-wave pullback may follow. A sharp rally from the lows would be an indication … Continued

gbpusd
GBPUSD – Pound signals a more bearish tone

Partially a reflection of US Dollar strength, but GBPUSD has broken below a key level at 1.2947, sending a negative, intermediate-term signal from a technical analysis perspective (see below for details). Furthermore, this has occurred as the UK Parliament resumes after an Easter recess, with pressures continuing to mount on Prime Minister Theresa May. Potential … Continued

euro stoxx
European equity markets stay strong

The major European equity markets went into the Easter holiday season positing new cycle and 2019 highs. This price action reinforces both short- and intermediate-term bull trends, as markets enter a very busy week for earning reports. With the second quarter earnings season thus far proving broadly positive for global companies and therefore the wider … Continued


Forex Brokers in your location