Monero / Dollar may fall to 156.5 - 158.3

Our pivot point stands at 164.3.

Our preference

Target 156.5.

Alternative scenario

The upside breakout of 164.3, would call for 167.3 and 169.1.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under its 20 period moving average (162.7) but above its 50 period moving average (161.6).

Supports and resistances

169.1 **

167.3 *

164.3 **

163.1

161.9 last

158.3

156.5 **

154.7 *

152.9 **

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