Litecoin is at a critical juncture.

Looking at the four hour chart, we can see that Litecoin is still flirting with the 50 and 200 EMAs. As you can see on the chart, LTC appears to be creating an inverse head and shoulders, which (if it breaks out) would likely send us up to around $286 and then $308. I've also noted a bullish divergence on the chart, between price and momentum (dashed green lines.) You can see that lower highs have been made on the chart, while higher highs have been made on the MACD. If the right shoulder of the proposed inverse head and shoulders pattern breaks lower than $200, the inverse head and shoulders would be negated, and we would be looking at an apparent failed breakout of the symmetrical triangle.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-