Binance Coin / Dollar may rise to 539.9 - 546.1

516.8 is our pivot point.

Our preference

As long as 516.8 is support look for 546.1.

Alternative scenario

Below 516.8, expect 506.6 and 500.5.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 524.7 and 520.5).

Supports and resistances

558.3 **

552.2 *

546.1 **

539.9

525.6 last

520.8

516.8 **

506.6 *

500.5 **

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