03.03.202307:59 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for March 3, 2023

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Litecoin failed to build momentum after breaking above minor resistance at 96.02 and has instead seen a decline to the support line near 85.85. We could see Litecoin move a bit lower to test the balance at 82.68 before charging higher again towards 121.68 and possibly even closer to 136.00 as the bullish momentum builds.

However, for now, we need to see evidence that the corrective decline from 105.67 has been completed and a new impulsive rally is unfolding.

Torben Melsted
Analytical expert of InstaForex
© 2007-2025

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