Litecoin continues to follow the expected path and has made new highs since the long-term bottom at 42.22. We continue to look for more upside progress, but nothing comes in a straight line. Therefore, we see another temporary consolidation in the coming days before the next push higher towards 88.66. The push to 88.66 should complete wave i of 3 and give way to a new consolidation/correction in wave 2, but as the uptrend from 42.22 gathers momentum, we expect the consolidation/correction to be small and less time-consuming.
Support is now seen at 79.68 which ideally will act as a floor for the rally to 88.66 and above.
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Relevance up to 07:00 2023-01-13 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
