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25.01.202307:11 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for January 25, 2023

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Litecoin is in a position where we could have seen the low of wave II and the next impulsive rally could start anytime for a move towards the 121 - 122 area. That said, it's also possible that wave II only just completed wave b of II and wave c lower to 76.11 now is in progress. The final outcome is still more upside, but the big question is from where. We have to remember that we are in wave 3 and correction during this wave tends to be smaller in size and duration. So, it should come as no surprise if Litecoin starts to rally higher anytime now towards the next big upside target at 121.

Torben Melsted
Analytical expert of InstaForex
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