13.01.202307:08 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for January 13, 2023

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Litecoin continues to follow the exact path that we have laid down over the last couple of months. Litecoin is now testing the 85.23 target and we expect a correction/consolidation towards support near 79.68 and maybe even a slightly deeper correction closer to the low of wave iv/ at 73.22 before the next rally higher towards 88.66 to complete wave v and larger I. However, in the longer term, we continue to look for even higher levels and a rally towards 121.68 and possibly the top from November 2021 near 295.

Torben Melsted
Analytical expert of InstaForex
© 2007-2024

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade