Litecoin / Dollar may fall to 70.9 - 71.6

Our pivot point is at 73.7.

Our preference

The downside prevails as long as 73.7 is resistance.

Alternative scenario

Above 73.7, look for 74.8 and 75.5.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 73.9 and 74.3).

Supports and resistances

75.5 **

74.8 *

73.7 **

73.3

72.9 last

71.6

70.9 **

70.2 *

69.6 **

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