Litecoin / Dollar may rise to 75.0 - 75.8

Our pivot point stands at 72.1.

Our preference

The upside prevails as long as 72.1 is support.

Alternative scenario

The downside breakout of 72.1 would call for 70.7 and 69.9.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 71.9 and 71).

Supports and resistances

77.5 **

76.6 *

75.8 **

75.0

73.2 last

72.6

72.1 **

70.7 *

69.9 **

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