Monero / Dollar may fall to 151.8 - 153.5

Our pivot point is at 159.6.

Our preference

The downside prevails as long as 159.6 is resistance.

Alternative scenario

Above 159.6, look for 162.5 and 164.3.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 159.3 and 161).

Supports and resistances

164.3 **

162.5 *

159.6 **

158.5

157.0 last

153.5

151.8 **

150.1 *

148.3 **

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