Binance Coin / Dollar may fall to 502.2 - 508.7

Our pivot point stands at 531.5.

Our preference

The downside prevails as long as 531.5 is resistance.

Alternative scenario

The upside breakout of 531.5, would call for 542.5 and 549.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 524.4 and 523.3).

Supports and resistances

549.0 **

542.5 *

531.5 **

527.2

522.2 last

508.7

502.2 **

495.7 *

489.2 **

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