Binance Coin / Dollar may rise to 536.5 - 541.5

Our pivot point stands at 517.1.

Our preference

The upside prevails as long as 517.1 is support.

Alternative scenario

Below 517.1, expect 508.8 and 503.8.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 511.3 and 501.1).

Supports and resistances

551.5 **

546.5 *

541.5 **

536.5

525.9 last

520.4

517.1 **

508.8 *

503.8 **

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