Monero / Dollar may rise to 174.1 - 176.0

Our pivot point is at 167.7.

Our preference

The upside prevails as long as 167.7 is support.

Alternative scenario

The downside breakout of 167.7 would call for 164.5 and 162.6.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 169.3 and 169.2).

Supports and resistances

179.8 **

177.9 *

176.0 **

174.1

170.2 last

168.9

167.7 **

164.5 *

162.6 **

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