20.12.202208:22 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for December 20, 2022

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We called for a corrective bottom near 61.07 and we saw a low at 61.20 from where Litecoin turned strongly higher. In the short term, we could see a temporary corrective setback to 63.80 and then a new strong attempt to break above resistance at 65.82. With a break above here, we confirm that the corrective decline in wave 2/ has been completed and wave 3 has taken over for a rally towards 96.90 and possibly even closer to 113.52 as the next upside target.

Torben Melsted
Analytical expert of InstaForex
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