Binance Coin / Dollar may fall to 554.5 - 561.9

589.2 is our pivot point.

Our preference

The downside prevails as long as 589.2 is resistance.

Alternative scenario

The upside breakout of 589.2, would call for 601.7 and 609.2.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 581.4 and 582.4).

Supports and resistances

609.2 **

601.7 *

589.2 **

584.2

578.4 last

561.9

554.5 **

547.0 *

539.6 **

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