Litecoin / Dollar may rise to 62.1 - 62.7

Our pivot point is at 59.5.

Our preference

Rebound.

Alternative scenario

The downside breakout of 59.5 would call for 58.3 and 57.6.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (60) but under its 50 period moving average (60.8).

Supports and resistances

64.1 **

63.4 *

62.7 **

62.1

60.7 last

59.9

59.5 **

58.3 *

57.6 **

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