For Traders

Analytical Reviews

Crypto-currencies

23.03.202307:58 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for March 23, 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 is finally challenging resistance near 87.40. A clear break above here will confirm that wave 2 completed with the test of the 61.8% corrective target at 65.29 and a new impulsive rally is unfolding in wave 3. The first target to look for is seen at 131.05 and then 171.43 with the latter, the most likely upside target for wave 3.

Support is currently seen near 85.09 which ideally will protect the downside for the expected rally higher to 131.05 and above.

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