This analysis suggests that Litecoin (LTC) is continuing its bullish wave that began in late November 2024, following a bottom in August 2024. The wave experienced a significant 40% correction, activating the 0.618 Fibonacci retracement level. This retracement level was precisely hit, signaling that the correction low is likely in place.
### Short-Term Analysis: - **Green Closes:** Litecoin has closed three consecutive green days, with today marking the fourth. - **Potential Scenarios:** 1. A small advance followed by a sudden drop, forming a higher low. 2. A direct upward movement. 3. Sideways movement for a few days before resuming growth. - **Uncertainty:** Low trading volume makes it challenging to confirm a bullish resumption in the short term. The next move could either be a higher high or a higher low.
### Long-Term Perspective: - **Clear Trend:** Despite short-term uncertainties, the long-term trend remains unmistakably bullish. - **Targets:** Short- to mid-term targets indicate much higher prices by the completion of this bullish phase. - **Timing:** The next significant rise could occur within a few days or weeks, but the exact timing does not alter the overall upward trajectory.
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This analysis suggests that Litecoin (LTC) is continuing its bullish wave that began in late November 2024, following a bottom in August 2024. The wave experienced a significant 40% correction, activating the 0.618 Fibonacci retracement level. This retracement level was precisely hit, signaling that the correction low is likely in place.
### Short-Term Analysis:
- **Green Closes:** Litecoin has closed three consecutive green days, with today marking the fourth.
- **Potential Scenarios:**
1. A small advance followed by a sudden drop, forming a higher low.
2. A direct upward movement.
3. Sideways movement for a few days before resuming growth.
- **Uncertainty:** Low trading volume makes it challenging to confirm a bullish resumption in the short term. The next move could either be a higher high or a higher low.
### Long-Term Perspective:
- **Clear Trend:** Despite short-term uncertainties, the long-term trend remains unmistakably bullish.
- **Targets:** Short- to mid-term targets indicate much higher prices by the completion of this bullish phase.
- **Timing:** The next significant rise could occur within a few days or weeks, but the exact timing does not alter the overall upward trajectory.