FX.co ★ Elliott wave analysis of Litecoin for February 13, 2023

Litecoin should be in the final stages of the ongoing correction. We are looking for a break above minor resistance at 94.96 as confirmation that wave ii/ has been completed and wave iii/ higher towards 107.72 is in motion. We need to accept the possibility of one final spike lower to test 88.39 before completing the correction and setting the stage for a new impulsive rally higher. The odds of another decline are low but there is such a likelihood.