Peter Smith
⬤ Litecoin sits just under a key resistance band on the 4-hour chart. Price action traces an inverse head-and-shoulders pattern. The neckline lies between 86.67 and 88.80 dollars. That zone has blocked every push higher for weeks. Litecoin now trades a hair beneath that band while bulls try to muster a decisive break.
⬤ The pattern displays clear shoulders and a head that bottoms near 76.50 dollars. Each revisit to the neckline ends with a swift rejection. A sustained close above 88.80 dollars would confirm the reversal. The height of the formation projects a target near 101.50 dollars, about fourteen per cent above present levels.
⬤ Litecoin now swaps hands in the mid eighties. Price keeps printing higher lows - yet volume stays quiet. The pattern remains unconfirmed until price turns the old ceiling into a floor. Failure here would open the way for a drop back toward the low eighties or high seventies.
⬤ This juncture matters because the next print will likely decide the trend for the weeks ahead. A successful breakout could revive broad altcoin interest plus end months of sideways chop. A fresh rejection would show that supply still rules and that the range will persist.
Peter Smith
