Litcoin Facing Resistance

Litecoin has bounced back, but is facing resistance at $158. We are potentially seeing an inverse head and shoulders pattern forming here, but we will need to see the second shoulder form properly before we can confirm. We are seeing support at $151 at the moment, as confirmed by a green triangle on the KRI. Both the Kovach momentum indicators are bearish, which could indicate that we are preparing to break through support. If so, watch for support at $147, or just above it to form the second shoulder of the inverse H&S pattern.