10.10.202206:09 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for October 10, 2022

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Litecoin should re-test resistance at 55.94 soon and a break will be the first strong indication that the corrective decline from 66.75 has been completed and a new impulsive rally is developing. That said, we need a break above resistance at 66.75 to activate the S/H/S bottom for a rally towards 97.38 and possibly even to the extension target at 116.85.

Only an unexpected break below support at 51.71 will delay the expected impulsive rally higher for a dip towards 48.26 before higher again.

Torben Melsted
Analytical expert of InstaForex
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