Litecoin has formed a head and shoulders pattern, finally completing the right shoulder. This is not a good sign for LTC. We are finding support at the neckline for now, at $195. Watch this level carefully. The Kovach OBV is still strong but is starting to turn over, which could support a bearish outlook. A breakdown could take us to $184 or $174. If we are wrong, watch $202 and $209 for resistance. We have a way to go before achieving relative highs at $227.
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