FX.co ★ Elliott wave analysis of Litecoin for November 11, 2022

Litecoin staged a massive rally from the expanding leading diagonal support line near 49.00. This gives us faith that our current count is correct and we will be looking for more upside pressure towards 74.25 and ultimately above here too for a strong rally towards resistance near 105.

That said, we know the expected rally won't be in a straight line. Therefore, we should expect a temporary setback from near 65.30 towards 54.75 before the next strong rally higher to test strong resistance at 74.25 and ultimately above here too.