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13.10.202306:07 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for October 13, 2023

Exchange Rates 13.10.2023 analysis

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 market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Torben Melsted,
Analytical expert of InstaSpot
© 2007-2024
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