Litecoin price draws a negative formation – Analysis - 22-05-2018

Litecoin price shows weak trading in the previous sessions, and by taking a deeper look at the chart, we find that the price forms head and shoulders’ pattern that its signs appear on the image, which means that breaking 125.00 will provide strong negative motive that supports the chances of extending the bearish wave on the short term basis.

Therefore, our bearish overview will remain valid for the upcoming period unless breaching 166.43 level and holding above it, noting that our next main target is located at 102.00.

Expected trading range for today is between 100.00 support and 150.00 resistance

Expected trend for today: Bearish