Litecoin / Dollar may fall to 79.5 - 80.7

Our pivot point stands at 84.7.

Our preference

Under pressure below 84.7.

Alternative scenario

The upside breakout of 84.7, would call for 86.7 and 87.9.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 83.5 and 83.3).

Supports and resistances

87.9 **

86.7 *

84.7 **

83.9

83.1 last

80.7

79.5 **

78.3 *

77.1 **

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