The Litecoin chart shows signs of weakening of the current upward movement.
A classic Double Top reversal pattern is being formed on the chart. The breakdown of the neckline at the level of 85.65 serves as the main signal for confirmation. Next we can consider two possible scenarios for the development of events. The first scenario assumes the price fixing below the neckline and a further price decline. In the second scenario, the price may return behind the neckline, which may lead to the pattern being canceled and the upward movement continuing.
Litecoin holders should focus on opening short positions, which can be relevant either now or when the key signal level is retested.
📌 Entry: 85.59
✔️ First target: 83.25
✔️ Second target: 81.65
❌ Stop order: 87.65
