Litecoin Intraday: rebound

May 24, 2024 00:30
Litecoin (LTC/USD)
Our pivot point stands at 83.4.

Our preference: rebound.

Alternative scenario: the downside breakout of 83.4 would call for 81 and 79.6.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (84.6) but below its 50 period moving average (85.6).

Supports and resistances:
92.5 **
91.1 *
89.6 **
85.3 last
83.4 **
81.0 *
79.6 **

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