LTC is currently trading at 190 range. It is currently on the 4th elliot corrective wave. It has reached the current support level . If the price action honors elliott wave cycle, it might fluctuate a little between 180 to 120 range before starting the 5th elliott impulse. The 5th rlliott wave impulse is bullish . A 100% fibronnocci extention will give 320 price target and 161.8% fibronocci extension will give 400 price target. The price action analysis is made based on the assumption that LTC will follow Elliot Wave cycle. BTC and LTC has a high correlation. BTC follows a similar price action. I have made a similar BTC price analysis on Oct 31. The BTC price movement so far fits my charting pretty well. I believe both LTC and BTC will have the 5th elliott impulse wave if they follow the elliott wave cycle. Please refer to my BTC idea published on Oct 31st for reference. This is not a financial advise. Sometimes things could turn out different based on the factors. Happy thanksgiving. Please tell me what you think.
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The overall market is fluctuating up and down. However, if you zoom in on the daily chart. The price movement follows the pattern pretty well
