FX.co ★ Elliott wave analysis of Litecoin for October 4, 2022

In our view, Litecoin remains in a bottoming process and is likely to form an S/H/S bottom, but we need a break above minor resistance at 55.94 to confirm a new test of the S/H/S neckline seen near 67.40, and a break above here will activate the bottom-formation for a rally towards the S/H/S-target at 97.38 and possibly even closer to the extension-target at 116.85.

For now, we are looking for a break above minor resistance at 55.94 as the next "Go" towards the neckline resistance.