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My Brain. I have a 108.9% in this class. i know my stuff
I don't think the Hobbit has a continuous antagonist like say Sauron in Lord of the Rings. Instead there are a series of adventures and obstacles that can be considered antagonistic. These challenges offer have creatures that serve as antagonists too. Consider,
Trolls, Goblins, wolves, the Spiders of Mirkwood, the Wood-elves, Smaug and then multiple enemies in the Battle of Five Armies.