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18.08.202306:05 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for August 18, 2023

Exchange Rates 18.08.2023 analysis

We have now seen the expected test of support at 61.20 so all requirements for the expanded flat correction in wave 2 have already been fulfilled. Hence, a new impulsive rally could start to unfold anytime now. Because of a huge spike to 82.12, we will need to see a break above minor resistance at 65.91 and more importantly, a break above resistance at 74.62 to confirm that wave 2 has been completed and wave 3 is unfolding towards 131.05 and possibly above.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Torben Melsted,
Analytical expert of InstaSpot
© 2007-2024
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