Monero / Dollar may fall to 147.1 - 148.7

Our pivot point is at 155.3.

Our preference

The downside prevails as long as 155.3 is resistance.

Alternative scenario

The upside breakout of 155.3, would call for 158.1 and 159.8.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (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 156.9 and 158.9). Finally, the Monero / Dollar is trading below its lower Bollinger band (standing at 152.4).

Supports and resistances

159.8 **

158.1 *

155.3 **

154.2

152.1 last

148.7

147.1 **

145.4 *

143.7 **

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