Litecoin / Dollar may rise to 74.5 - 75.1

72.3 is our pivot point.

Our preference

As long as 72.3 is support look for 75.1.

Alternative scenario

Below 72.3, expect 71.2 and 70.5.

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 positive and below its signal line. The price could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 72.7 and 71.7).

Supports and resistances

76.4 **

75.8 *

75.1 **

74.5

73.2 last

72.7

72.3 **

71.2 *

70.5 **

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