Litecoin Intraday: look for a drop towards 76.2 before a bounce
Litecoin (LTC/USD)
+0.84+1.10%
look for a drop towards 76.2 before a bounce.
Our pivot point is at 76.2.
Our preference: look for a drop towards 76.2 before a bounce.
Alternative scenario: the downside breakout of 76.2 would call for 73.7 and 72.3.
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 above its 20 and 50 period moving average (respectively at 78.3 and 77.8).
Supports and resistances:
85.7 **
84.2 *
82.8 **
81.3
78.4 last
77.1
76.2 **
73.7 *
72.3 **
Our preference: look for a drop towards 76.2 before a bounce.
Alternative scenario: the downside breakout of 76.2 would call for 73.7 and 72.3.
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 above its 20 and 50 period moving average (respectively at 78.3 and 77.8).
Supports and resistances:
85.7 **
84.2 *
82.8 **
81.3
78.4 last
77.1
76.2 **
73.7 *
72.3 **
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