Binance Coin / Dollar may fall to 424.6 - 429.9

Our pivot point is at 460.3.

Our preference

The downside prevails as long as 460.3 is resistance.

Alternative scenario

The upside breakout of 460.3, would call for 469.4 and 474.9.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 503.8 and 521.8). Finally, the Binance Coin / Dollar is trading below its lower Bollinger band (standing at 456.5).

Supports and resistances

474.9 **

469.4 *

460.3 **

456.8

442.3 last

429.9

424.6 **

419.4 *

414.1 **

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