14.02.202308:28 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for February 14, 2023

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Litecoin failed to break above resistance at 94.96 which called for a final spike lower to 88.39 which we have seen with the low coming in at 88.25. This is enough to fulfil the corrective target and set the stage for a new impulsive rally towards 107.82 and above.

Short-term we will be looking for a break above resistance at 94.96 as confirmation that the corrective decline from 102.39 has completed and the next impulsive rally is in motion.

Torben Melsted
Analytical expert of InstaForex
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