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Litecoin grapples with ‘double top’ risks after LTC price rallies 37% in November
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A 37% November price rally in Litecoin (LTC) risks exhaustion as the “silver cryptocurrency” hints at forming a double top chart pattern.
The classic bearish reversal setup appears when the price forms two consecutive peaks of almost the same height, with each upside move meeting with a strong correction toward a common support level, called the “neckline.”
Typically, the price breaks below the support and falls by as much as the maximum height between the double top’s peak and neckline.
So it appears, Litecoin is halfway through forming a double top pattern, as shown in the chart below.
In detail, LTC’s price peaked out on Nov. 10 near $295.50 — the first top — before correcting lower toward the neckline support of around $249. That followed
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