Litecoin / Dollar may fall to 71.3 - 72.0

Our pivot point is at 74.2.

Our preference

The downside prevails as long as 74.2 is resistance.

Alternative scenario

Above 74.2, look for 75.3 and 76.0.

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 75.4 and 76.7).

Supports and resistances

76.0 **

75.3 *

74.2 **

73.8

73.4 last

72.0

71.3 **

70.7 *

70.0 **

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