FX.co ★ Elliott wave analysis of Litecoin for May 17, 2023

Litecoin has been locked in a corrective consolidation since mid-February where Litecoin peaked at 105.67. This consolidation now appears to be complete and a new impulsive rally towards at least 131.05 is in the cards.

We will be looking for a break above minor resistance at 93.94 as confirmation that the wave 2 correction has completed and the next impulsive rally is in motion for the expected rally towards at least 131.05 and likely higher longer term.