19.12.202207:16 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for December 19, 2022

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Litecoin is completing its wave 2/ of 3 corrective. The token should find a low near 61.07 for the next strong rally higher towards 96.90 and possibly even closer to 113.52 before wave 3/ of 3 is complete. Longer term, we are looking for Litecoin to move much higher and test at least the 2021 high at 295.

However, for now, we at looking at a bottom near 61.07 for the next impulsive rally higher to 113.52. A break above minor resistance at 64.88 will be the first good indication that wave 3/ of 3 is unfolding.

Torben Melsted
Analytical expert of InstaForex
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