Monero / Dollar may rise to 156.6 - 158.2

Our pivot point stands at 151.3.

Our preference

The upside prevails as long as 151.3 is support.

Alternative scenario

Below 151.3, expect 148.7 and 147.2.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). 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 151.5 and 150.8). Finally, the Monero / Dollar has crossed above its upper Bollinger band (153.4).

Supports and resistances

161.2 **

159.7 *

158.2 **

156.6

153.5 last

152.3

151.3 **

148.7 *

147.2 **

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