Firstly Litecoin (LTC) could not follow the rise of Bitcoin (BTC) and other growing coins as the rate of the "digital silver" has gone down by 1.21% since yesterday. We published our analysis on 24th July with a bullish signal - activated at 118.63 and targeted destination 132.105. Fortunately the market is currently hovering at 146.685 below our near by weekly resistance  150.20 which will be our deciding point in terms of a fractal breakout or a fractal reversal. According to our previous analysis - Litecoin price had adjusted itself  at the 78.6% Fibonacci retracement level after 9 consecutive bearish days. LTC recorded the best day on May 31 with gain of 10%. The  breakout above $115 was a good opportunity for investors.

BULLISH AND BEARISH POSSIBILITIES/ CONDITIONS :

We are focused on this zone because if 150.20 is broken with a bullish impulse, this would lead LTCUSD towards  173.30. In the second case scenario, if the crypto reverses from the aforementioned resistance zone, this would again become a dovish indication for the market to fall towards 135-141.20. On the hourly chart, Litecoin (LTC) has bounced off the $136 mark, following a rising trading volume. At the moment, there is a high chance to come back to the zone of the most liquidity around $140. Also on a shorter time frame with minor degree of bullish move above our aforementioned resistance at 152.20, then in also in accordance to the daily time frame, ltc is accumulating power in the range of $140-$145. The trading volume is low, which means that after a breakout of the vital $150 mark, the price can continue the growth to the nearest resistance at $155.

LTCUSD H4

Aug 06 2021