FX.co ★ Elliott wave analysis of Litecoin for January 11, 2023

Litecoin has corrected to 79.68 as expected and we see a positive hidden divergence on the RSI calling for a strong rally to take over in wave v/ of iii any time now. We will need a break above minor resistance at 82.27 to confirm that wave v/ is in progress. Wave v/ is likely to climb at least to 85.23 and possibly even closer to 88.66.

As always, we will take the expected continuation of the uptrend in baby steps and look for a break above the minor resistance at 82.27 calling for a continuation higher to 85.23.