Litecoin: Neckline Breakdown Could Extend the Selloff
Litecoin has formed a classic Head & Shoulders pattern, a well-known bearish reversal structure that often signals the end of an uptrend.
Price is currently testing the neckline, and sellers appear to be defending this level.
A confirmed 1-hour candle close below the neckline would strengthen the bearish outlook and increase the probability of a move toward the measured downside targets.
The first support lies around 42.59, where buyers may attempt to slow the decline. If bearish momentum remains strong, the next key target sits near 41.26, aligning with a previous demand zone.
Targets:
🎯 Target 1: 42.59
🎯 Target 2: 41.26
You can find more details on the chart.
Thank you and good luck! 🍀
⚠️PS: Do your own analysis and use your own strategy to join the trade.
❤️ If this analysis helps your trading day, please support it with a like or comment ❤️
Litecoin has formed a classic Head & Shoulders pattern, a well-known bearish reversal structure that often signals the end of an uptrend.
Price is currently testing the neckline, and sellers appear to be defending this level.
A confirmed 1-hour candle close below the neckline would strengthen the bearish outlook and increase the probability of a move toward the measured downside targets.
The first support lies around 42.59, where buyers may attempt to slow the decline. If bearish momentum remains strong, the next key target sits near 41.26, aligning with a previous demand zone.
Targets:
🎯 Target 1: 42.59
🎯 Target 2: 41.26
You can find more details on the chart.
Thank you and good luck! 🍀
⚠️PS: Do your own analysis and use your own strategy to join the trade.
❤️ If this analysis helps your trading day, please support it with a like or comment ❤️
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✅MY FREE Signals Channel
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✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.