LTCUSD made a beautiful drop from the former wave (4) swing high, that was found at 61.74 level. The current weakness we regard as wave (5) of three, that can look for a low and a temporary bullish reversal near the 47.500/46.000 region where the Fibonacci projection ratio of 61.8 and the lower channel line can react as support for Litecoin.

LTCUSD, 1h

Now let’s switch to ETCUSD, where price made a nice and sharp drop out of a triangle which was located in minor wave iv at 13.916 level. We see a current drop as wave v of 3 that can look for a temporary support and a low, and later push the price into a new three-wave recovery within higher degree wave 4 with possible resistance near the 13.92 area.

ETCUSD, 1h