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29.03.202307:45 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for March 29, 2023

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Litecoin has most likely completed a small wave ii correction at 85.68 and is headed higher towards 105.67 and above here will be open for a rally towards 131.05 and likely above. If our count is correct, then we are entering the period, when the strongest rally should be expected as wave iii of 3/ of 3 is ready to develop. This is common when prices just continue to push higher and higher as the real uptrend gathers momentum.

Short-term a break above minor resistance at 94.87 will support our preferred count that wave 3 is ready to release all its accumulated energy.

Torben Melsted
Analytical expert of InstaForex
© 2007-2024

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