Monero / Dollar may rise to 175.0 - 176.6

Our pivot point stands at 168.5.

Our preference

Our next up target stands at 176.6.

Alternative scenario

The downside breakout of 168.5 would call for 165.8 and 164.2.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 168.8 and 171.5). Finally, the Monero / Dollar has crossed above its upper Bollinger band (171.6).

Supports and resistances

179.8 **

178.2 *

176.6 **

175.0

171.7 last

169.6

168.5 **

165.8 *

164.2 **

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