Monero / Dollar may rise to 171.7 - 173.3

Our pivot point is at 164.7.

Our preference

The upside prevails as long as 164.7 is support.

Alternative scenario

Below 164.7, expect 162.1 and 160.5.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). 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 164.9 and 162.7). Finally, the Monero / Dollar is trading above its upper Bollinger band (standing at 168.4).

Supports and resistances

176.5 **

174.9 *

173.3 **

171.7

168.5 last

165.8

164.7 **

162.1 *

160.5 **

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