Monero / Dollar may fall to 163.3 - 165.1

Our pivot point stands at 172.3.

Our preference

As long as 172.3 is resistance look for 163.3.

Alternative scenario

Above 172.3, look for 175.5 and 177.4.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price is trading above its 20 period moving average (169.5) but under its 50 period moving average (169.7).

Supports and resistances

177.4 **

175.5 *

172.3 **

171.1

169.6 last

165.1

163.3 **

161.4 *

159.5 **

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