Litecoin continues to move up in line with expectations and has recently broken through 42.22 once again. We don’t expect the current rise to proceed in a straight line, so we don’t expect any additional consolidations in the immediate future.
A temporary consolidation is anticipated in the coming days before the next bull charge towards 88.66. The wave i 3 upward movement from 42.22 is expected to result in a new consolidation/correction, but as the current uptrend gathers momentum, we expect the consolidation/correction to be minor and brief.
The initial support level at 79.68 will serve as a floor for the expansion to 88.66 and above.
