FX.co ★ Elliott wave analysis of Litecoin for January 31, 2023

Litecoin continues to push higher and we should soon see sub-wave iii/ of iii set in for a rally towards at least 104.96 and possibly even closer to 107.82 as the next upside target. Short term, we expect support near 93.75 to act as a floor for a break above minor resistance at 94.48 for the next push higher towards 104.96.

Longer term, we continue to look for much higher levels closer to 121.68 and possibly even 135.22 as the next major upside targets.