Elliott wave analysis of Litecoin for June 30 ,2023
June 30, 2023 7:22 am
Litecoin has behaved just as we expected. Once the minor correction had completed just below support at 82.59, Litecoin gained upside momentum and broke above minor resistance at 89.40 and more importantly also broke above resistance at 93.80, calling for an impulsive rally towards at least 131.05 and possibly closer to 1.618-time wave 1 at 171.43.
Support is now seen at 93.80 and then at 90.66 that ideally will act as a floor for the expected rally towards 131.05 and above.
The material has been provided by InstaForex Company – www.instaforex.com
Litecoin has behaved just as we expected. Once the minor correction had completed just below support at 82.59, Litecoin gained upside momentum and broke above minor resistance at 89.40 and more importantly also broke above resistance at 93.80, calling for an impulsive rally towards at least 131.05 and possibly closer to 1.618-time wave 1 at 171.43.
Support is now seen at 93.80 and then at 90.66 that ideally will act as a floor for the expected rally towards 131.05 and above.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: