FX.co ★ Technical analysis of Litecoin for October 17, 2022

Litecoin is currently testing minor resistance at 52.86. A break above here will indicate that we have seen a bottom with the test of 48.41 and a new test of strong resistance at 55.94 is developing. A break above this resistance will indicate a more important low has been seen and a test of the neckline resistance of the S/H/S at 64.41 is developing. To confirm a long-term low being in place, we need the neckline at 64.41 to be broken as this opens up the upside for a much strong rally towards 97.38 and above.