Binance Coin / Dollar may rise to 584.2 - 591.5

Our pivot point is at 554.0.

Our preference

Our next up target stands at 591.5.

Alternative scenario

The downside breakout of 554 would call for 541.8 and 534.5.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 559.4 and 563.5). Finally, the Binance Coin / Dollar is trading above its upper Bollinger band (standing at 569.3).

Supports and resistances

606.2 **

598.9 *

591.5 **

584.2

569.4 last

558.8

554.0 **

541.8 *

534.5 **

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