Will Litecoin be the next cryptocurrency to steal the spotlight? According to Peter Brandt, this could definitely happen.
The legendary trader notes that the O.G. altcoin has formed an inverse head-and-shoulders pattern.
A breakout from the aforementioned formation could take LTC to its Feb. 20 high of $247, says Brandt.
However, he also warns that head-and-shoulders patterns could “fail” or “morph.” The current one would be invalidated in case of a drop below the $180 level.
Litecoin is currently trading at $194 on the Binance exchange after spiking over three percent.