Monero / Dollar may rise to 163.6 - 165.4

Our pivot point is at 156.5.

Our preference

Look for a drop towards 156.5 before a bounce.

Alternative scenario

Below 156.5, expect 153.5 and 151.8.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (159.9) but above its 50 period moving average (159.4).

Supports and resistances

169.0 **

167.2 *

165.4 **

163.6

159.6 last

157.6

156.5 **

153.5 *

151.8 **

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