FX.co ★ Elliott wave analysis of Litecoin for July 10, 2023

Once again Litecoin failed to break above resistance at 98.60 which was punished with another downside push to test strong support near 92.40. This was a bit deeper than we expected, but still within the allowed guidelines. Ideally, we will see the support near 92.40 continue to hold firm and start pushing Litecoin higher to re-test strong resistance near 98.60 which needs to give away to confirm that the corrective decline from 114.92 has been completed and a new impulsive rally is unfolding towards 114.92 and higher to the next target at 131.05.