Monero / Dollar may rise to 164.9 - 166.5

Our pivot point stands at 159.5.

Our preference

The upside prevails as long as 159.5 is support.

Alternative scenario

The downside breakout of 159.5 would call for 156.9 and 155.4.

Comment

The RSI is above its neutrality area at 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 159 and 159.2). Finally, the Monero / Dollar is trading above its upper Bollinger band (standing at 161.3).

Supports and resistances

169.5 **

168.0 *

166.5 **

164.9

161.8 last

160.5

159.5 **

156.9 *

155.4 **

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