Litecoin / Dollar may fall to 60.5 - 61.4

Our pivot point stands at 64.5.

Our preference

The downside prevails as long as 64.5 is resistance.

Alternative scenario

Above 64.5, look for 66.0 and 66.9.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 64.1 and 64.7). Finally, the Litecoin / Dollar is trading below its lower Bollinger band (standing at 63.3).

Supports and resistances

66.9 **

66.0 *

64.5 **

64.0

63.3 last

61.4

60.5 **

59.7 *

58.8 **

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