The Trust Layer for Market Analysts

The analysis focuses on LTCUSD using an 8-hour chart. Litecoin is currently in a pullback phase, having reacted to the 50% retracement level around August of the current year. Since December of the previous year, the price has struggled to break above $130, acting as a structural resistance. The analysis identifies three waves up to the December highs, followed by a wave two pullback. There's an A wave up to August highs, followed by another pullback. A key zone to watch for reactions is between $74.17 and $100. A rally in Q4 is anticipated from this zone. The structure is considered potentially corrective, with a 'Plan B' scenario if the price breaks below $74, indicating a continuing wave two. The nearest support area is between $74 and $100. To confirm a bullish trend, the analysis requires a break above $121. It's important to surpass the $130-$140 area to shift the focus to higher targets above $200. Ultimately, a five-wave move up from the support zone is sought. In the short term, the correction may stretch lower. Resistance for a wave four could be found between $107 and $109. Breaking above this level will be an indication of bottom