Litecoin / Dollar may fall to 57.6 - 58.5

Our pivot point is at 61.3.

Our preference

The downside prevails as long as 61.3 is resistance.

Alternative scenario

Above 61.3, look for 62.7 and 63.6.

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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 62.4 and 62.9).

Supports and resistances

63.6 **

62.7 *

61.3 **

60.8

60.2 last

58.5

57.6 **

56.8 *

56.0 **

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