FX.co ★ Elliott wave analysis of Litecoin for September 5, 2022

In late August, we pinpointed the possibility of a Shoulder- Head-Shoulder bottom being built. The right shoulder held support nicely and is now ready to test the neckline resistance at near 65.77. A break above here will activate the bottom formation for a rally towards 85.27 and possibly even closer to the extension target at 100.65.

However, a confirmed bottom could lead to much higher levels in the weeks/months ahead and 100.65 could only be a temporary stop on the way higher.