Litecoin / Dollar may fall to 67.2 - 67.8

Our pivot point stands at 70.6.

Our preference

The downside prevails as long as 70.6 is resistance.

Alternative scenario

Above 70.6, look for 71.7 and 72.3.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 72.6 and 73.8). Finally, the Litecoin / Dollar is trading below its lower Bollinger band (standing at 69.8).

Supports and resistances

72.3 **

71.7 *

70.6 **

70.2

69.7 last

67.8

67.2 **

66.6 *

66.0 **

Number of asterisks represents the strength of support and resistance levels.