Binance Coin / Dollar may fall to 558.3 - 563.8

Our pivot point stands at 588.4.

Our preference

The downside prevails as long as 588.4 is resistance.

Alternative scenario

The upside breakout of 588.4, would call for 597.7 and 603.2.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 577.5 and 579.5).

Supports and resistances

603.2 **

597.7 *

588.4 **

584.8

577.2 last

563.8

558.3 **

552.9 *

547.4 **

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