Litecoin will follow Bitcoin Cash!
Between April and June (highlighted section in the figure below), Litecoin price completed an ABC corrective structure (red). This was probably the second wave in a five wave move up (black).
If the wave count is valid, as indicated by the decisive break above the $95 resistance zone, Litecoin price has started its third wave.
Despite the strong resistance area at $135, the most likely level to complete the entire up move is at $195, which is created by the retracement Fibonacci resistance levels of 0.618.
Despite this bullish analysis for Litecoin, a candle close below $95 means that the Elliott wave count is incorrect and the trend will continue to be bearish. In this case, the price of Litecoin may fall to its long-term uptrend line at $80
