Litecoin / Dollar may rise to 54.7 - 55.3

Our pivot point stands at 51.3.

Our preference

Rebound towards 55.3.

Alternative scenario

Below 51.3, expect 50.3 and 49.7.

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 above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 54.7 and 60).

Supports and resistances

56.5 **

55.9 *

55.3 **

54.7

52.1 last

51.6

51.3 **

50.3 *

49.7 **

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