Binance Coin / Dollar may fall to 521.7 - 526.8

Our pivot point is at 543.7.

Our preference

The downside prevails as long as 543.7 is resistance.

Alternative scenario

The upside breakout of 543.7, would call for 552.3 and 557.4.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). 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 556 and 568.1). Finally, the Binance Coin / Dollar has penetrated its lower Bollinger band (541.0).

Supports and resistances

557.4 **

552.3 *

543.7 **

540.4

537.0 last

526.8

521.7 **

516.6 *

511.5 **

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