Litecoin Feeling out the Range

Litecoin has been ranging but it is looking pretty weak here. We have support here at $242 and $251, and are continuing to feel out this range. We might have an inverse head and shoulders pattern forming, but the neckline needs to establish itself better. If this is the case, we could make a run for $291. If not, look for $227 to provide support. The Kovach OBV has waned lately, suggesting we need to wait for more momentum to come through.