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20.10.202307:30 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for October 20, 2023

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Litecoin has rallied nicely from the lower end of the support area between 60.00 and 61.78. We should ideally see a break above minor resistance at 66.30 soon, but the real test will be seen at key resistance at 70.44 as this resistance needs to be broken to declare the correction from 114.92 complete and a new impulsive rally is in progress. Once resistance at 70.44 breaks, a rally towards 131.05 will follow.

Torben Melsted
Analytical expert of InstaForex
© 2007-2024

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