Litecoin should re-test resistance at 55.94 soon and a break will be the first strong indication that the corrective decline from 66.75 has been completed and a new impulsive rally is developing. That said, we need a break above resistance at 66.75 to activate the S/H/S bottom for a rally towards 97.38 and possibly even to the extension target at 116.85.
Only an unexpected break below support at 51.71 will delay the expected impulsive rally higher for a dip towards 48.26 before higher again.
Relevance up to 06:00 2022-10-11 UTC+2 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.
