Elliott wave analysis of Litecoin for August 10, 2023

Litecoin continues to show underlying impulsive tendency, calling for more upside as long as support at 79.31 is able to act as a firm floor for the next impulsive rally towards 94.42 and 105 on the way towards 131.05.

Should we see a break of the short-term important support at 79.31, this would call for renewed downside pressure towards 71.37 and call for an alternate count. But for now, we will stay with the count that has served us well for months.