Binance Coin / Dollar may rise to 567.0 - 574.0

Our pivot point stands at 541.5.

Our preference

The upside prevails as long as 541.5 is support.

Alternative scenario

Below 541.5, expect 529.9 and 523.1.

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 539.1 and 538.7).

Supports and resistances

587.8 **

580.9 *

574.0 **

567.0

553.1 last

546.1

541.5 **

529.9 *

523.1 **

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