Monero / Dollar may fall to 159.5 - 161.0

Our pivot point is at 166.6.

Our preference

The downside prevails as long as 166.6 is resistance.

Alternative scenario

The upside breakout of 166.6, would call for 169.2 and 170.7.

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 is trading under both its 20 and 50 period moving average (respectively at 166.6 and 168.2).

Supports and resistances

170.7 **

169.2 *

166.6 **

165.5

164.5 last

161.0

159.5 **

157.9 *

156.4 **

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