Elliott wave analysis of Litecoin for October 13, 2023
October 13, 2023 7:23 am
Litecoin is testing support in the 60.00 – 61.78 area which ideally should act as a floor for the next impulsive rally towards 131.05 and above. That said, we need to see a break above resistance at 64.70 to confirm that wave 2 has been completed and wave 3 higher is in motion.
Under no circumstances can a break below support at 57.69 be allowed under this scenario. Otherwise, an alternative scenario is unfolding.
The material has been provided by InstaForex Company – www.instaforex.com
Litecoin is testing support in the 60.00 – 61.78 area which ideally should act as a floor for the next impulsive rally towards 131.05 and above. That said, we need to see a break above resistance at 64.70 to confirm that wave 2 has been completed and wave 3 higher is in motion.
Under no circumstances can a break below support at 57.69 be allowed under this scenario. Otherwise, an alternative scenario is unfolding.
The material has been provided by InstaForex Company – www.instaforex.com
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