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Technical analysis of Litecoin/USD for October 4, 2021

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We continue to look for a strong rally higher towards 491 to complete Livermore's accumulation cylinder. From the current price of 166, a rally to 491 is an almost 300% gain. This is likely to be rather quick. It may take a few months to complete.

In the short term, a break above 195 and resistance at 238 may occur. If so, the pair may grow towards 491.

The material has been provided by InstaForex Company - www.instaforex.com