FX.co ★ Elliott wave analysis of Litecoin for March 7, 2023

Litecoin could still see a drop lower to test the equality target at 84.36, but such a dip should be short-lived. It is likely to set the stage for a new impulsive rally higher through resistance at 91.71 for a new impulsive rally towards 105.67 on the way higher to 121.68 and above.

As long as minor resistance at 91.71 is able to cap the upside, we should expect the drop lower to test the 84.36 target, but the corrective decline from 105.67 is now going through the final stage and the potential downside should be limited.