Binance Coin / Dollar may fall to 455.4 - 459.8

Our pivot point is at 484.3.

Our preference

The downside prevails as long as 484.3 is resistance.

Alternative scenario

The upside breakout of 484.3, would call for 491.9 and 496.5.

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 stands below its 20 and 50 period moving average (respectively at 512.1 and 536.1).

Supports and resistances

496.5 **

491.9 *

484.3 **

481.3

474.5 last

459.8

455.4 **

450.9 *

446.5 **

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