I want to be bullish on Litecoin; I really do. But the chart seems quite bearish right now. It appears as though the coin is forming a head & shoulder pattern on the 4 hour (since late December). I agree; the pattern isn't complete as of yet; but it sure looks like it's forming that right shoulder.
Providing that the right shoulder is formed; you want to pay attention to the $200-$213 area. If $200 support doesn't hold; we may be looking at a retest of the $144 low.
DISCLAIMER: Nothing on this site shall be constituted as investment advice. Cryptocurrency is a highly, note, HIGHLY speculative market. The returns are great but so are the risks! As with investing; I never invest with money I can not afford to lose.
Tina Lashley holds a Bachelor of Arts in Forensic Psychology and a Master's of Science in Mental Health Counseling and has been a stock market participant for over 10 years. Currently a Full-Time Trader and Blogger of all things financial.