12.10.202306:04 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for October 12, 2023

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Litecoin is currently testing support in the 60.00 - 61.78 area, which we expect will be able to act as a floor for the next and likely successful break above resistance at 70.44 for a rally towards the long-term target at 131.05.

At no point can a break below support at 57.69 be allowed under the current count. An unexpected break below 57.69 will call for an alternative count, but the odds for this seem very low.

Torben Melsted
Analytical expert of InstaForex
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