Litecoin / Dollar may rise to 74.8 - 75.4

Our pivot point stands at 72.4.

Our preference

Look for a drop towards 72.4 before a bounce.

Alternative scenario

Below 72.4, expect 71.3 and 70.7.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading under its 20 period moving average (73.5) but above its 50 period moving average (73.3).

Supports and resistances

76.7 **

76.1 *

75.4 **

74.8

73.4 last

72.8

72.4 **

71.3 *

70.7 **

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