For Traders

Analytical Reviews

Crypto-currencies

31.01.202307:05 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for January 31, 2023

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Litecoin continues to push higher and we should soon see sub-wave iii/ of iii set in for a rally towards at least 104.96 and possibly even closer to 107.82 as the next upside target. Short term, we expect support near 93.75 to act as a floor for a break above minor resistance at 94.48 for the next push higher towards 104.96.

Longer term, we continue to look for much higher levels closer to 121.68 and possibly even 135.22 as the next major upside targets.

Torben Melsted
Analytical expert of InstaForex
© 2007-2024

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade