Litecoin / Dollar may fall to 67.5 - 68.2

Our pivot point stands at 70.2.

Our preference

The downside prevails as long as 70.2 is resistance.

Alternative scenario

Above 70.2, look for 71.3 and 71.9.

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 stands below its 20 and 50 period moving average (respectively at 70.6 and 72.6).

Supports and resistances

71.9 **

71.3 *

70.2 **

69.8

69.4 last

68.2

67.5 **

66.9 *

66.3 **

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