Litecoin / Dollar may rise to 73.3 - 74.2

Our pivot point stands at 70.5.

Our preference

Rebound.

Alternative scenario

The downside breakout of 70.5 would call for 69.1 and 68.3.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (71.3) but below its 50 period moving average (71.8).

Supports and resistances

75.8 **

75.0 *

74.2 **

73.3

71.6 last

71.0

70.5 **

69.1 *

68.3 **

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