Litecoin / Dollar may fall to 78.9 - 80.1

Our pivot point stands at 85.2.

Our preference

The downside prevails as long as 85.2 is resistance.

Alternative scenario

The upside breakout of 85.2, would call for 87.2 and 88.4.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 84.9 and 84.9). Finally, the Litecoin / Dollar is trading below its lower Bollinger band (standing at 83.6).

Supports and resistances

88.4 **

87.2 *

85.2 **

84.4

83.0 last

80.1

78.9 **

77.7 *

76.5 **

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