Litecoin / Dollar may fall to 69.3 - 70.1

Our pivot point stands at 73.2.

Our preference

The downside prevails as long as 73.2 is resistance.

Alternative scenario

Above 73.2, look for 74.6 and 75.4.

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 is trading under both its 20 and 50 period moving average (respectively at 73 and 73.5). Finally, the Litecoin / Dollar has penetrated its lower Bollinger band (71.9).

Supports and resistances

75.4 **

74.6 *

73.2 **

72.6

71.9 last

70.1

69.3 **

68.5 *

67.6 **

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