Litecoin Technical Analysis: Bearish head and shoulders noted on the hourly chart

• Litecoin is struggling on Thursday falling 2.85%.
• There is a head and shoulders chart pattern that has formed on the hourly chart.

Litecoin Hourly Chart

LTC/USD has fallen back below the 55 hourly EMA in a bearish move.

There is also a bearish head and shoulders chart formation that has formed too.

The 200 EMA is in close proximity which could act as near term support.

The pair has also made a new lower low wave.

Additional Levels