Elliott Wave

Elliott wave analysis of Litecoin for November 2, 2022

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Litecoin is still fighting to break clear of resistance at 55.94. A break above minor resistance at 57.40 will confirm continuation higher towards the neckline resistance near 64.60. Only a break above here activates the formation for a rally towards the S/H/S target at 97.38 and possibly even closer to the extension target at 116.85.

Only a break below support at 54.18 will delay the expected rally higher and call for a dip to 50.00 before turning higher again.

The material has been provided by InstaForex Company – www.instaforex.com