Litecoin is a fast, low-cost cryptocurrency often used for everyday transactions. It’s known for quick block times, reliable network security, and serving as a testing ground for innovations that later appear on Bitcoin.
Litecoin experienced a massive sell-off with a huge spike, like most of the ALTcoins, because of the market manipulation. We see this spike as a wave (C) of an (A)(B)(C) corrective decline, which can be wave A of an ongoing ABCDE bullish triangle pattern in wave E of a larger bullish running triangle pattern in wave (IV).
In the 4-hour timeframe, we can now see a completed three-wave (A)(B)(C) decline within wave C at the projected 61,8% Fibonacci and 74 area, so it can be now recovering within a new three-wave rally within wave D back to the upper triangle line near 100 area.
Weekly chart shows a completed larger ABCDE bullish running triangle pattern in wave (IV), so wave (V) can still show up.
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