Monero / Dollar may fall to 154.4 - 156.1

Our pivot point stands at 161.7.

Our preference

The downside prevails as long as 161.7 is resistance.

Alternative scenario

The upside breakout of 161.7, would call for 164.5 and 166.2.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 160 and 160.9).

Supports and resistances

166.2 **

164.5 *

161.7 **

160.6

159.5 last

156.1

154.4 **

152.7 *

151.0 **

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