Litecoin is a peer-to-peer digital decentralized currency distributed worldwide and LTCUSD represents the price of Litecoin in US Dollar.
Down from 12/19/2017 peak $370.78 the pullback in Litecoin is proposed complete in wave (x) at 12/07/2018 low ( $22.54) as a zigzag correction. Up from there, LTC is expected to resume the next Daily cycle higher.
Up from $22.54 low, it ended cycle from 12/07/2018 low in higher degree I at 6/22/2019 peak ($146.95). Currently, the proposed pullback to correct cycle from 12/07/2018 low is still in progress in wave II.
Up from $22.54 low it ended wave ((1)) at $42.84 and pullback in wave ((2)) ended at $29.59 low. Above from there wave ((3)) of wave I unfolded as a 5 waves Elliott Wave structure and ended wave ((3)) at $100 peak and from there wave ((4)) of I ended at $69.10 low. Above from there, wave ((5)) of I ended at $147.38 peak.
Down from 6/22/2019 peak ($146.95), the instrument is correcting the rally from 12/07/2018 low in wave II pullback as double three structure where wave ((W)) ended at $75.88 low. Wave ((X)) bounce ended at $107.11 high and wave ((Y)) is looking to extend lower towards $52.60-$35.78 area before upside resume. Near-term, while below $107.11 high expect Litecoin to extend lower.
LTCUSD 4H Chart 8.27.2019