Litecoin / Dollar may fall to 56.1 - 56.8

Our pivot point stands at 59.5.

Our preference

The downside prevails as long as 59.5 is resistance.

Alternative scenario

The upside breakout of 59.5, would call for 60.6 and 61.3.

Comment

The RSI is below its neutrality area at 50. 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 58.7 and 58.5).

Supports and resistances

61.3 **

60.6 *

59.5 **

59.0

58.4 last

56.8

56.1 **

55.5 *

54.8 **

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