Elliott wave analysis of Litecoin for August 25, 2023
August 25, 2023 7:22 am
Litecoin is still consolidating in a narrow range between 62.05 to 67.33. We still expect support at 62.05 to be able to protect the downside for a break above minor resistance at 67.33 for a rally towards key resistance at 85.32. A break above here will finally confirm that wave 2 has been completed and wave 3 is in motion for a rally towards 131.05.
Should support at 62.05 fail to protect the downside, that would likely call for a re-test of the 57.40 low.
The material has been provided by InstaForex Company – www.instaforex.com
Litecoin is still consolidating in a narrow range between 62.05 to 67.33. We still expect support at 62.05 to be able to protect the downside for a break above minor resistance at 67.33 for a rally towards key resistance at 85.32. A break above here will finally confirm that wave 2 has been completed and wave 3 is in motion for a rally towards 131.05.
Should support at 62.05 fail to protect the downside, that would likely call for a re-test of the 57.40 low.
The material has been provided by InstaForex Company – www.instaforex.com
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