My previous post on Litecoin can be found here:
In the post above, I mentioned that Litecoin would target between ~$142.76 and ~$146.29 (Target area) which is again shown in this post.
Litecoin (LTCUSD) currently has reached this target area. The entire structure from ~$109.89 on April 1,2018 based on this analysis thus represents a regular flat Elliott wave structure.
Minute wave ((c)) = ~138.2% of Minute wave ((a)) at ~$146.61 (region of target area).
The implication of the above is therefore to anticipate a correction from the target area to further support the possibility of higher prices for Litecoin.
Support area 1 for Litecoin as shown in this analysis is ~$133.92 and ~$131.48
Support area 1 for Litecoin is between ~$128.67 and ~$125.57
Point of invalidation (POI) for this analysis is a price close above ~$152.33 at which point Minute wave ((c)) = ~161.8% of Minute wave ((a)) which is highly unlikely for wave c of a regular flat Elliott wave structure.