FX.co ★ Elliott wave analysis of Litecoin for August 9, 2022

Litecoin has activated the Shoulder/Head/Shoulder bottom for a rally towards at least 85.27 and possibly closer to the extension target at 100.65. In the longer term, we expect that Litecoin has seen an important bottom that will not be visited for the next decades.

Ultimately, Litecoin should revisit the all-time high at 413.60 and beyond, but that could be years from now. Support is seen at 60.38 that ideally will protect the downside for the rally to 85.27 and above.