FX.co ★ Elliott wave analysis of Litecoin for June 15, 2023

Litecoin continues to add downside pressure as it broke below support at 75.37. We should ideally see Litecoin move closer to the ideal corrective target at 65.83 before completing wave 2 that should set the stage for a new impulsive rally, that ultimately should take out the peak of wave 1 at 105.67 for a move closer to at least 131.05 and more likely closer to 171.43.

Short-term we now see resistance at 77.29 and the near 79.67 which is expected to cap the upside for more downside pressure.