Litecoin Breakout

Litecoin has finally seen a much-anticipated breakout with strong momentum that has lasted for several days despite pausing for air yesterday. We appear to have entered the next cycle of the impulse of a 5-3 Elliott Wave, confirmed by several long green candles. We’ve continued to break into new highs, and what was once a price target of $138.50 now provides support. The psychological level of $200 now seems viable, which coincides with a Fibonacci and nested Fibonacci Extension level.

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