FX.co ★ Elliott wave analysis of Litecoin for September 18, 2023

Litecoin has seen a new test of the corrective low at 57.40 and we could still see another corrective low just below 57.40 as long as minor resistance at 70.44 is able to cap the upside. Only a clear break above minor resistance at 70.44 will confirm that wave 2 has been completed and wave 3 higher towards 131.05 is in motion.

It is possible that we will see a firm test of resistance at 70.44 that fails and a final dip to just below 57.40 is to be seen to complete waves v and 2 and set the stage for the next impulsive rally higher in wave 3, but for now we must see what happens near resistance at 70.44 as that is the answer to the next big move.