Binance Coin / Dollar may rise to 585.9 - 592.7

Our pivot point is at 558.8.

Our preference

Rebound.

Alternative scenario

The downside breakout of 558.8 would call for 547.4 and 540.7.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (568.3) but under its 50 period moving average (575.4).

Supports and resistances

606.4 **

599.5 *

592.7 **

585.9

571.9 last

563.3

558.8 **

547.4 *

540.7 **

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