Litecoin / Dollar may fall to 61.0 - 61.5

Our pivot point is at 63.4.

Our preference

The downside prevails as long as 63.4 is resistance.

Alternative scenario

Above 63.4, look for 64.3 and 64.8.

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 negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 66.3 and 68.2).

Supports and resistances

64.8 **

64.3 *

63.4 **

63.0

62.6 last

61.5

61.0 **

60.4 *

59.9 **

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