Litecoin Consolidating

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Litecoin showed signs of life this weekend, but as we mentioned, $147 was a formidable contender and LTC just did not have the momentum to break it. We found support at $134, and have just now rejected $141. Broadly, we appear to be forming a pennant pattern, and volatility is consolidating. The Kovach OBV is pretty flat, so it could go either way from here. There is a vacuum zone back down to $120 so be careful. From above, $147 is to remain a barrier until we muster sufficient momentum.