Litecoin / Dollar may rise to 75.3 - 76.1

Our pivot point is at 72.4.

Our preference

The upside prevails as long as 72.4 is support.

Alternative scenario

The downside breakout of 72.4 would call for 71 and 70.1.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 72.1 and 71.5).

Supports and resistances

77.8 **

77.0 *

76.1 **

75.3

73.5 last

72.9

72.4 **

71.0 *

70.1 **

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