Litecoin / Dollar intraday: the RSI is oversold

LTCUSD

Trading Central 2021-02-22 22:55:14

206.20 is our pivot point.

Our preference: the downside prevails as long as 206.20 is resistance.

Alternative scenario: the upside breakout of 206.20, would call for 214.60 and 219.50.

Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 212.50 and 221).

Supports and resistances:

219.50 **

214.60 *

206.20 **

202.90

195.68 last

180.10

175.40 **

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