Litecoin: Between Decline and Rise

After the recent sharp decline in Litecoin,

the currency has now begun to correct and rise again.

The currency is currently approaching very important selling supply areas,

in line with the new downtrend, as shown on the chart.

Currently, the currency is facing several possible scenarios.

The first scenario is a decline after reaching the supply areas,

defined near the 113.27 level, and then falling from them again,

to test the recent bottom, approximately near the 100 level.

The second scenario is an upward trend, 

which requires breaking the downtrend,

penetrating the supply areas, and closing above them, as well,

specifically, closing above the 119.46 level.

Therefore, the upward trend is the strongest possibility, 

and the upward trend is expected to continue,

reaching the supply areas above, near the 128 level.