Litecoin / Dollar may fall to 67.6 - 68.4

Our pivot point is at 71.1.

Our preference

The downside prevails as long as 71.1 is resistance.

Alternative scenario

Above 71.1, look for 72.5 and 73.3.

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 71.3 and 71.5). Finally, the Litecoin / Dollar is trading below its lower Bollinger band (standing at 70.4).

Supports and resistances

73.3 **

72.5 *

71.1 **

70.6

70.1 last

68.4

67.6 **

66.8 *

66.0 **

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