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Litecoin, the 5th altcoin based on the total market cap, has been quiet recently in terms of new updates and partnerships. Litecoin brands themselves as the Silver of the crypto-assets, whereas Bitcoin is Gold.
Litecoins price action for the past quarter, since the October’s MimbleWhimble update. The price is strictly bound to the crypto-market’s sentiment and Bitcoin’s price action. By the time of writing of this article, LTC/USD is traded at $133.50 and is currently traded below the moving averages MA100 and MA200 on a 4H chart.
There is a strong dynamic resistance which restrains Litecoin to continue the bullish uptrend. However according to the Elliott Waves principle, Litecoin should break the resistance and continue upwards as its now completing the Wave E of the 5-wave corrective wave structure. If the pair fails to break the upper edge of the triangle, LTC will drop to seek support at levels near $120 – 118, where t
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