FX.co ★ Elliott wave analysis of Litecoin for October 13, 2023

Litecoin is testing support in the 60.00 - 61.78 area which ideally should act as a floor for the next impulsive rally towards 131.05 and above. That said, we need to see a break above resistance at 64.70 to confirm that wave 2 has been completed and wave 3 higher is in motion.

Under no circumstances can a break below support at 57.69 be allowed under this scenario. Otherwise, an alternative scenario is unfolding.