Litecoin / Dollar may fall to 58.1 - 58.6

Our pivot point stands at 60.4.

Our preference

The downside prevails as long as 60.4 is resistance.

Alternative scenario

Above 60.4, look for 61.3 and 61.8.

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 below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 63.1 and 66.6).

Supports and resistances

61.8 **

61.3 *

60.4 **

60.1

59.6 last

58.6

58.1 **

57.5 *

57.0 **

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