Elliott wave analysis of Litecoin for July 7, 2023
July 7, 2023 7:23 am
Litecoin failed to break above minor resistance at 106.57 which as expected opened up the way for one more dip below 98.70. We have now seen that dip and most likely the final corrective low at 95.39. We should see Litecoin recover and first break minor resistance at 99.09 which will confirm a re-test of short-term important resistance at 106.57. Above here, we will find that the corrective low is in place and renewed upside pressure is developing for a rally towards 114.92 and 131.05 as the next upside targets.
The material has been provided by InstaForex Company – www.instaforex.com
Litecoin failed to break above minor resistance at 106.57 which as expected opened up the way for one more dip below 98.70. We have now seen that dip and most likely the final corrective low at 95.39. We should see Litecoin recover and first break minor resistance at 99.09 which will confirm a re-test of short-term important resistance at 106.57. Above here, we will find that the corrective low is in place and renewed upside pressure is developing for a rally towards 114.92 and 131.05 as the next upside targets.
The material has been provided by InstaForex Company – www.instaforex.com
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