FX.co ★ Elliott wave analysis of Litecoin for August 11, 2023

Litecoin should test the support in the 82.60 - 83.20 area before a break above minor resistance at 84.27 should be expected to confirm that the corrective decline in wave ii finally has come to an end and wave iii higher towards 104.92 and 114.92 should be expected. In the long term, we continue to look for a rally towards the 131.05 target.

Only an unexpected break below support at 79.31 will call for more downside pressure towards 71.37 but also demand an alternate count for the rally from 40.33