Litecoin / Dollar may fall to 76.2 - 77.2

Our pivot point is at 81.1.

Our preference

The downside prevails as long as 81.1 is resistance.

Alternative scenario

Above 81.1, look for 82.8 and 83.8.

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 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 82.8 and 83.7).

Supports and resistances

83.8 **

82.8 *

81.1 **

80.4

79.6 last

77.2

76.2 **

75.2 *

74.2 **

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