27.02.202307:09 Forex Analysis & Reviews: Elliott wave analysis of Litecoin on February 27, 2023

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Litecoin has seen a more prolonged correction in wave ii/, but it finally seems to be coming to an end, and we should expect renewed upside progress anytime now. In the short term, a break above minor resistance at 96.10 and more importantly a break above resistance at 98.40 will confirm that wave ii/ has completed and the next impulsive rally is unfolding towards 112.00 and even higher towards 121.00 to complete wave 3/ in the longer term.

It's possible to see a final spike lower as long as minor resistance at 96.10 is able to cap the upside, but we regard this possibility as low.

Torben Melsted
Analytical expert of InstaForex
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