Litecoin has followed the other major cryptocurrencies higher and rallied to a fresh 2020 trading high over the Christmas holiday weekend. Technical analysis shows that an extremely large inverted head and shoulders pattern has now formed on the higher time frames. The LTCUSD pair could explode towards the $200.00 level if the cryptocurrency holds above the $150.00 level.
The LTCUSD pair is only bullish while trading above the $120.00 level, key resistance is found at the $150.00 and the $200.00 levels.
If the LTCUSD pair trades below the $120.00, sellers may test the $100.00 and $85.00 support levels.
