Binance Coin / Dollar may rise to 517.4 - 523.4

Our pivot point is at 494.9.

Our preference

The upside prevails as long as 494.9 is support.

Alternative scenario

The downside breakout of 494.9 would call for 484.8 and 478.8.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 491.5 and 487.9).

Supports and resistances

535.5 **

529.4 *

523.4 **

517.4

503.6 last

498.8

494.9 **

484.8 *

478.8 **

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