Binance Coin / Dollar may rise to 549.1 - 555.4

523.5 is our pivot point.

Our preference

The upside prevails as long as 523.5 is support.

Alternative scenario

The downside breakout of 523.5 would call for 513.1 and 506.9.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 526.2 and 526.8).

Supports and resistances

567.8 **

561.6 *

555.4 **

549.1

532.8 last

527.5

523.5 **

513.1 *

506.9 **

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