Binance Coin / Dollar may rise to 587.6 - 594.4

Our pivot point stands at 562.6.

Our preference

Rebound.

Alternative scenario

The downside breakout of 562.6 would call for 551.1 and 544.3.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (571) but below its 50 period moving average (573.5).

Supports and resistances

608.1 **

601.3 *

594.4 **

587.6

572.0 last

567.1

562.6 **

551.1 *

544.3 **

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