Forex Analysis & Reviews: Elliott wave analysis of Litecoin for November 9, 2022

We have seen a deeper-than-expected correction here, as we have seen a correction to the 78.6% corrective target near 53.72, but then it's just in the middle of the fourth wave of one lesser degree, which is normally what we would expect to see. Therefore, we expect Litecoin to start the next journey higher towards the S/H/S bottom target at 97.38.

Only an unexpected break below the key support at 48.41 will invalidate our bullish scenario for the expected rally higher to 97.38 and above.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

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