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06.02.202307:12 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for February 6, 2023

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Litecoin is in a minor correction, that ideally should terminate near 94.00 for the next push higher towards 1.0782 to complete wave iii and set the stage for a new temporary consolidation in wave iv. However, for now, we are looking for sub-wave iv/ to terminate soon and set up the next rally closer to the 1.0782 target.

Short-term a break above minor resistance at 97.73 will indicate sub-wave iv/ being complete and the rally to 1.0782 being in motion.

Torben Melsted
Analytical expert of InstaForex
© 2007-2024

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