Monero / Dollar may fall to 148.8 - 150.5

Our pivot point stands at 157.5.

Our preference

The downside prevails as long as 157.5 is resistance.

Alternative scenario

Above 157.5, look for 160.4 and 162.1.

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 negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 156.8 and 159.9).

Supports and resistances

162.1 **

160.4 *

157.5 **

156.3

154.3 last

150.5

148.8 **

147.1 *

145.4 **

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