Binance Coin / Dollar may rise to 607.1 - 612.4

Our pivot point is at 586.5.

Our preference

The upside prevails as long as 586.5 is support.

Alternative scenario

The downside breakout of 586.5 would call for 577.6 and 572.4.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 588.1 and 581). Finally, the Binance Coin / Dollar is trading above its upper Bollinger band (standing at 594.9).

Supports and resistances

622.9 **

617.6 *

612.4 **

607.1

596.4 last

589.9

586.5 **

577.6 *

572.4 **

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