29.03.202307:45 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for March 29, 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 has most likely completed a small wave ii correction at 85.68 and is headed higher towards 105.67 and above here will be open for a rally towards 131.05 and likely above. If our count is correct, then we are entering the period, when the strongest rally should be expected as wave iii of 3/ of 3 is ready to develop. This is common when prices just continue to push higher and higher as the real uptrend gathers momentum.

Short-term a break above minor resistance at 94.87 will support our preferred count that wave 3 is ready to release all its accumulated energy.

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