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24.03.202308:34 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for March 24, 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.

Exchange Rates 24.03.2023 analysis

Litecoin continues to perform well and should soon test resistance near 98.30. This resistance may be able to temporarily cause a setback to support near 88.50, but ultimately, we expect Litecoin to overcome resistance at 98.30 and to continue higher towards the next upside target at 131.05.

In the longer term, we anticipate even more upside pressure to be seen and the 131.05 target only to be temporary, but for now, let's take the expected rally in baby steps and don't get lost in targets far out in the distance.

Torben Melsted
Analytical expert of InstaForex
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