Binance Coin / Dollar may rise to 609.1 - 616.2

Our pivot point stands at 580.2.

Our preference

The upside prevails as long as 580.2 is support.

Alternative scenario

The downside breakout of 580.2 would call for 568.3 and 561.3.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 584.5 and 583.9).

Supports and resistances

630.5 **

623.4 *

616.2 **

609.1

592.4 last

584.8

580.2 **

568.3 *

561.3 **

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