Monero / Dollar may rise to 178.7 - 180.8

Our pivot point stands at 170.3.

Our preference

The upside prevails as long as 170.3 is support.

Alternative scenario

Below 170.3, expect 166.8 and 164.7.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 168.9 and 168.2). Finally, the Monero / Dollar is trading above its upper Bollinger band (standing at 172.7).

Supports and resistances

184.9 **

182.8 *

180.8 **

178.7

173.5 last

171.6

170.3 **

166.8 *

164.7 **

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