Technical analysis by mr16kprime about Symbol LTC: Sell recommendation (8/20/2025)

Elliott Wave count on Litecoin shows that the market is unfolding within a larger bullish structure. A clear five-wave impulse (1–5) is developing, with waves 1, 2, and 3 already labeled. Wave 3 peaked around the $132–$143 region, which aligns with common Fibonacci extension levels. Following this strong rally, the market has entered a corrective phase for wave 4. The red circle highlights the current price action, suggesting the start of a pullback. The expected retracement zone for wave 4 lies near $104–$107, which coincides with prior support and the 200 EMA. If price respects this zone and holds above it, a powerful fifth wave could emerge, driving Litecoin towards the $140–$150 region and potentially higher. On the bearish side, if price breaks significantly below $103 and moves deeper, then the correction could extend further, possibly towards the $85–$90 area before resuming higher. The bull confirmation level is set at $140.92 — if broken, it would signal strong continuation to the upside. Overall, the structure remains bullish, with the current dip appearing as a corrective opportunity rather than a trend reversal.