Litecoin Price Analysis: Just a retracement?

• The LTC/USD price bounced off the 38.2% Fibonacci retracement to move higher.
• The previous wave high will now be the target to beat for the bulls.

LTC/USD 4-Hour Chart

Litecoin has retraced over the last few sessions but found some support at the 38.2% Fib level.

The level coincided with some previous support and historically has been a sticky point for the price.

Elsewhere, if that level breaks the 50% level could also act as a support level too.

Now if the bulls regain control of LTC/USD the previous wave high of 84.50 should be the target to beat.

On a longer-term basis, if a lower high wave is made then the bulls might start to worry.

Additional Levels