Monero / Dollar may fall to 149.9 - 151.6

Our pivot point stands at 158.1.

Our preference

The downside prevails as long as 158.1 is resistance.

Alternative scenario

Above 158.1, look for 161 and 162.7.

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 156.8 and 158.6). Finally, the Monero / Dollar is trading below its lower Bollinger band (standing at 155.3).

Supports and resistances

162.7 **

161.0 *

158.1 **

157.0

155.0 last

151.6

149.9 **

148.1 *

146.4 **

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