When we look at the monthly candle for Litecoin for Feb 2025, we have a bullish candlestick pattern, called the Dragonfly Doji. This candlestick pattern suggests that there are a lot more buyers that are able to withstand selling pressure.
Additionally, to put the cherry on top, it just so happens that the wick of the Dragonfly Doji retraced to a gap of the Nov 2024 candlestick.
I still think that the price of Litecoin will reach $900, also because it's likely that an ETF will be launched for Litecoin which helps fuel price to the upside.
I posted a bullish Elliott Wave count for Litecoin and this months price action is something that strengthens my bias. Here is my EW count for Litecoin that I posted earlier:
Let me know what you think.
Good luck!
Additionally, to put the cherry on top, it just so happens that the wick of the Dragonfly Doji retraced to a gap of the Nov 2024 candlestick.
I still think that the price of Litecoin will reach $900, also because it's likely that an ETF will be launched for Litecoin which helps fuel price to the upside.
I posted a bullish Elliott Wave count for Litecoin and this months price action is something that strengthens my bias. Here is my EW count for Litecoin that I posted earlier:
Let me know what you think.
Good luck!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.