Binance Coin / Dollar may rise to 556.3 - 563.1

Our pivot point is at 529.2.

Our preference

The upside prevails as long as 529.2 is support.

Alternative scenario

Below 529.2, expect 517.9 and 511.2.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 528.3 and 522.7). Finally, the Binance Coin / Dollar is trading above its upper Bollinger band (standing at 541.1).

Supports and resistances

576.7 **

569.9 *

563.1 **

556.3

541.2 last

533.7

529.2 **

517.9 *

511.2 **

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