Litecoin Is Eyeing 50-40 Support Zone from technical point of view and from Elliott wave perspective.
Litecoin with ticker LTCUSD is still in a sideways consolidation within uptrend on a daily and weekly chart after recent decline, with current price testing the major trendline support connected from 2020 lows. As long this one holds, there is a chance for recovery still, ideally up into higher degree wave D once current wave B of D is finished.
![Litecoin Is Eyeing 50-40 Support Zone LTCUSD Daily Chart](https://cdn1.wavetraders.com/wp-content/uploads/2023/10/ltcD.png)
For now this wave B is still underway with subwave (C) that has to be made by five waves down from 115. So if we are correct then the market is now in corrective subwave 4 bearish triangle pattern, from where final leg down can show up, and then we can ideally expect a bottom near $45-50 area, at 138.2% Fib extension. Bulls can be considered only if suddenly jumps back above 87 level.
![Litecoin Is Eyeing 50-40 Support Zone LTCUSD 4H Chart](https://cdn1.wavetraders.com/wp-content/uploads/2023/10/4h-ltcusd-oct-11-2023.png)
We talked about cryptocurrencies and other markets in our live webinar from October 09. You can watch a recording below:
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