Binance Coin / Dollar may rise to 587.7 - 592.9

566.5 is our pivot point.

Our preference

The upside prevails as long as 566.5 is support.

Alternative scenario

The downside breakout of 566.5 would call for 557.8 and 552.7.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 566.8 and 566.6).

Supports and resistances

603.3 **

598.1 *

592.9 **

587.7

574.4 last

569.9

566.5 **

557.8 *

552.7 **

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