Monero / Dollar may fall to 156.5 - 158.3

Our pivot point stands at 165.6.

Our preference

The downside prevails as long as 165.6 is resistance.

Alternative scenario

The upside breakout of 165.6, would call for 168.6 and 170.4.

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 stands below its 20 and 50 period moving average (respectively at 165.6 and 167). Finally, the Monero / Dollar is trading below its lower Bollinger band (standing at 163.4).

Supports and resistances

170.4 **

168.6 *

165.6 **

164.4

163.2 last

158.3

156.5 **

154.7 *

152.9 **

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