Monero / Dollar may rise to 160.0 - 161.6

Our pivot point stands at 154.5.

Our preference

The upside prevails as long as 154.5 is support.

Alternative scenario

Below 154.5, expect 151.9 and 150.3.

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 above its 20 and 50 period moving average (respectively at 155.3 and 153.7). Finally, the Monero / Dollar is trading above its upper Bollinger band (standing at 156.7).

Supports and resistances

164.7 **

163.1 *

161.6 **

160.0

156.9 last

155.5

154.5 **

151.9 *

150.3 **

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