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LTC Completes Third Wave Correction; Litecoin Bulls Now Ready for +40% Spike to This Next Level
According to Matthew Dixon, the CEO of Evai, Litecoin (LTC) appears to have completed its third wave correction, paving the way for a potential bullish rally. With LTC currently trading at around $77, Dixon believes that the cryptocurrency is likely to experience three waves of upward momentum, propelling its price beyond the $111.66 level, representing a potential gain of over 40%.
Litecoin’s Corrective Phase: In his analysis, Dixon suggests that Litecoin has undergone a corrective phase, characterized by three distinct waves. Corrections are typically seen as temporary pullbacks or consolidation periods within a larger uptrend or downtrend. The completion of this three-wave correction suggests that the bearish sentiment has subsided, and the bulls are now poised to regain control of the market.
Bullish Outlook: Dixon’s assessment indicates that Litecoin is now positioned for a strong bullish move, with the potential to surpass the $111.66 level. This target represents a significant upside of approximately 40% from the current trading price of $77.
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Wave Analysis: Dixon’s analysis is based on the principles of Elliott Wave Theory, a technical analysis tool used to identify recurring patterns in price movements. The theory suggests that market trends unfold in a series of waves, with corrective waves occurring within the larger trend.
By identifying the completion of the third wave correction, Dixon is implying that Litecoin has completed its temporary pullback and is now poised to resume its upward trajectory, potentially entering a new impulsive wave that could drive prices higher.
Litecoin’s Fundamentals: While technical analysis plays a crucial role in Dixon’s assessment, it is important to note that the performance of cryptocurrencies is also influenced by various fundamental factors. Litecoin’s underlying technology, adoption rates, and overall market sentiment can all contribute to its price movements.
As the analysis focuses primarily on the technical aspects, investors should also consider conducting their own research on Litecoin’s fundamentals and overall market conditions before making any investment decisions.
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The post LTC Completes Third Wave Correction; Litecoin Bulls Now Ready for +40% Spike to This Next Level appeared first on CaptainAltcoin.
Litecoin’s Corrective Phase: In his analysis, Dixon suggests that Litecoin has undergone a corrective phase, characterized by three distinct waves. Corrections are typically seen as temporary pullbacks or consolidation periods within a larger uptrend or downtrend. The completion of this three-wave correction suggests that the bearish sentiment has subsided, and the bulls are now poised to regain control of the market.
Bullish Outlook: Dixon’s assessment indicates that Litecoin is now positioned for a strong bullish move, with the potential to surpass the $111.66 level. This target represents a significant upside of approximately 40% from the current trading price of $77.
Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK?
The key? Getting in early, especially during the ICO phase. Check out NuggetRush today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. Seize the opportunity with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.
Show more +Show less –
Wave Analysis: Dixon’s analysis is based on the principles of Elliott Wave Theory, a technical analysis tool used to identify recurring patterns in price movements. The theory suggests that market trends unfold in a series of waves, with corrective waves occurring within the larger trend.
By identifying the completion of the third wave correction, Dixon is implying that Litecoin has completed its temporary pullback and is now poised to resume its upward trajectory, potentially entering a new impulsive wave that could drive prices higher.
Litecoin’s Fundamentals: While technical analysis plays a crucial role in Dixon’s assessment, it is important to note that the performance of cryptocurrencies is also influenced by various fundamental factors. Litecoin’s underlying technology, adoption rates, and overall market sentiment can all contribute to its price movements.
As the analysis focuses primarily on the technical aspects, investors should also consider conducting their own research on Litecoin’s fundamentals and overall market conditions before making any investment decisions.
Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.Get all our future calls by joining our FREE Telegram community.
Check NuggetRush ($NUGX) Sponsored: Invest Responsibly, Do Your Own Research. Buy NUGX Today Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices A unique play-to-earn gaming platform in the memecoin market The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience Fosters a strong community by encouraging physical meetups among members NFT Integration with Prominent Characters
The post LTC Completes Third Wave Correction; Litecoin Bulls Now Ready for +40% Spike to This Next Level appeared first on CaptainAltcoin.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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