Technical Analysis

Litecoin Is Eyeing 50-40 Support ZoneOct 11, 2023

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
LTCUSD Daily Chart

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

We talked about cryptocurrencies and other markets in our live webinar from October 09. You can watch a recording below:

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

Register here (Limited-Special 2 for 1 Offer available)

Higher Degree Correction Drops Oil To 80-75. Check our latest video analysis by Orbex HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.