Litecoin is rallying back to $90. Will this be sustained? The following 3-4 July Litecoin price prediction looks at LTCUSD technical forecast based on Elliott wave theory.
The Crypto market has started this month bullish with Bitcoin, Ripple, Ethereum and Litecoin recording some gains after a bearish move last month. Etheruem has gained close to 12% this month so far. Will this lead to a much bigger move upside? In the last update, we expected price to rally to $100 before the next dip to $50-60. It seems a new bullish wave would see price to $100. A fast drop from $100 is probable but price could break above it if impulsive. The rally to $100 was expected to be corrective as Litecoin has a bit different structure compared to Bitcoin and others. In today’s update, we will look at this scenario and an alternative scenario to forecast what could happen next and the important levels to watch out for. The chart below was used in the last update.
Price broke below the triangle support line and dropped to $73. We might see rally in the coming days back to $103. A break above $110 would send price further upside and this could mean the end of the bearish correction especially if the rally is impulsive. If price is resisted at $130, which is more likely, we might see further drops to $50-60 in the following days.
3-4 July Litecoin price prediction – what next?
The last update forecast still holds. We are likely going to see a rally to $100 this week. If the rally to $100 is corrective and price is contained below it, we might see a new bearish wave down to $50-60. The blue labeling shows the alternative forecast. This forecast requires a breakout above $100. If this happens, we should expect price at $127 and $150. Stay tuned for the next update.
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