empty
 
 
19.09.2022 06:06 AM
Elliott wave analysis of Litecoin for September 19, 2022

This image is no longer relevant

The break below support at 51.70 has changed the short-term count slightly and tells us that wave 2/ has already been completed. We don't expect a much deeper correction than we have already seen, but we will need proof that the corrective low in wave 2/ is in place. For that proof, we need a see break above 58.31 that will signal a re-test of the S/H/S bottom neckline at 67.40 and above here, it will call for a continuation higher to the S/H/S-target seen at 97.38.

As long as resistance at 58.31 is able to cap the upside, we could see Litecoin test 48.31 and the high of 46.21. A break below the latter will indicate that not even wave 2 has been completed.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback