FX.co ★ Elliott wave analysis of Litecoin for February 14, 2023

Litecoin failed to break above resistance at 94.96 which called for a final spike lower to 88.39 which we have seen with the low coming in at 88.25. This is enough to fulfil the corrective target and set the stage for a new impulsive rally towards 107.82 and above.

Short-term we will be looking for a break above resistance at 94.96 as confirmation that the corrective decline from 102.39 has completed and the next impulsive rally is in motion.