Litecoin / Dollar may rise to 76.1 - 76.8

Our pivot point stands at 73.9.

Our preference

The upside prevails as long as 73.9 is support.

Alternative scenario

The downside breakout of 73.9 would call for 72.8 and 72.1.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 73.2 and 72.8).

Supports and resistances

78.2 **

77.5 *

76.8 **

76.1

74.8 last

74.3

73.9 **

72.8 *

72.1 **

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