09.01.202307:07 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for January 9, 2023

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Litecoin continues to follow the expected path higher and is now facing resistance at the former high at 84.89. We expect Litecoin to break through this resistance, but it may not succeed in its first attempt, but ultimately a break should be seen for a continuation higher towards 104.96 and 121.68 as the next upside targets.

Short-term we see support at 79.62 which ideally will act as a floor for the break above 84.89 for the next rally higher to 104.96.

Torben Melsted
Analytical expert of InstaForex
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