Litecoin / Dollar may rise to 70.8 - 71.4

68.7 is our pivot point.

Our preference

Rebound towards 71.4.

Alternative scenario

The downside breakout of 68.7 would call for 67.7 and 67.1.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 70.6 and 72.5).

Supports and resistances

72.6 **

72.0 *

71.4 **

70.8

69.6 last

69.1

68.7 **

67.7 *

67.1 **

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