FX.co ★ Elliott wave analysis of Litecoin vs. Bitcoin for November 23, 2022

On November 18, we showed a chart of Litecoin vs Bitcoin and called for much more upside once a temporary correction was complete. After a decline to support at 0.00396, we have seen a strong rally higher. So, much more upside progress is expected in the weeks ahead as Litecoin continues to move higher towards 0.00520 and likely into resistance near 0.006286 and possibly near 0.00696 which means that Litecoin is about to double its value against Bitcoin.

In the longer term, we could see Litecoin continue to outperform Bitcoin as Litcoin approaches 0.0200.