FX.co ★ Elliott wave analysis of Litecoin for February 6, 2023

Litecoin is in a minor correction, that ideally should terminate near 94.00 for the next push higher towards 1.0782 to complete wave iii and set the stage for a new temporary consolidation in wave iv. However, for now, we are looking for sub-wave iv/ to terminate soon and set up the next rally closer to the 1.0782 target.

Short-term a break above minor resistance at 97.73 will indicate sub-wave iv/ being complete and the rally to 1.0782 being in motion.