Back on June 24, 2026, we discussed how Litecoin was approaching the final stages of its bearish cycle after a prolonged decline. At that time, we highlighted that LTC was likely moving within the final stages of a higher-degree corrective structure, where a potential five-wave decline could eventually complete the bearish sequence and create conditions for a larger recovery. CHECK IT HERE
Since then, Litecoin has continued lower and reached new lows near the 40 area, from where we are now seeing some stabilization. However, the current price action is still not enough to confirm that a major bottom is already in place.
The positive development is that we can now count a potential five-wave decline from 60.60, suggesting that sooner or later this higher-degree fifth wave should come to an end. Nevertheless, we prefer to remain patient and wait for more price data before fully confirming a bullish reversal scenario.
At the moment, Litecoin appears to be potentially forming a leading diagonal structure away from the lows, which could be an early indication that a bottom is forming. However, since this move could still be part of wave (5), we must remain aware of a possible corrective setback that could temporarily push price lower toward the 44–42 support area before the next leg higher begins.
The probability of a larger bottom formation is increasing, but confirmation is still needed. A stronger impulsive recovery and a clear break of key resistance levels would provide a much stronger signal that the long-term bearish cycle has finally ended.
Become a premium member
Get daily Elliott Wave updates for US Single Stocks, SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.