Whereas I'm not necessarily that bullish on LTC long term (just a BTC testnet). But this is a nice breakout setup.
We have nice support from previous lows and highs, the 88% retracement and the support of the pennant in the 55 USD area.
Therefor we would have to make one more leg down, which is also necessary to finish the E-wave.
Entry: 50USD - 55USD
Stop: 45USD
Target: 85USD
If we make that upward move it depends on the price action and volume to set higher targets. But for now I just expect a ABC-Correction wave in a continued downtrend.
We have nice support from previous lows and highs, the 88% retracement and the support of the pennant in the 55 USD area.
Therefor we would have to make one more leg down, which is also necessary to finish the E-wave.
Entry: 50USD - 55USD
Stop: 45USD
Target: 85USD
If we make that upward move it depends on the price action and volume to set higher targets. But for now I just expect a ABC-Correction wave in a continued downtrend.