23.03.202307:58 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for March 23, 2023

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Litecoin is finally challenging resistance near 87.40. A clear break above here will confirm that wave 2 completed with the test of the 61.8% corrective target at 65.29 and a new impulsive rally is unfolding in wave 3. The first target to look for is seen at 131.05 and then 171.43 with the latter, the most likely upside target for wave 3.

Support is currently seen near 85.09 which ideally will protect the downside for the expected rally higher to 131.05 and above.

Torben Melsted
Analytical expert of InstaForex
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