Litecoin / Dollar may fall to 65.6 - 66.2

68.6 is our pivot point.

Our preference

The downside prevails as long as 68.6 is resistance.

Alternative scenario

The upside breakout of 68.6, would call for 69.6 and 70.2.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 69.5 and 71.5). Finally, the Litecoin / Dollar has penetrated its lower Bollinger band (67.7).

Supports and resistances

70.2 **

69.6 *

68.6 **

68.3

67.6 last

66.2

65.6 **

65.1 *

64.5 **

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