Monero / Dollar may rise to 165.4 - 166.9

Our pivot point is 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 157 and 155.4.

Comment

The RSI is above 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 161.1 and 160.1).

Supports and resistances

170.0 **

168.4 *

166.9 **

165.4

162.3 last

160.6

159.5 **

157.0 *

155.4 **

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