Monero / Dollar may fall to 150.9 - 152.5

Our pivot point is at 159.0.

Our preference

The downside prevails as long as 159 is resistance.

Alternative scenario

Above 159, look for 161.7 and 163.4.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 160.9 and 161.4). Finally, the Monero / Dollar is trading below its lower Bollinger band (standing at 156.9).

Supports and resistances

163.4 **

161.7 *

159.0 **

157.9

156.4 last

152.5

150.9 **

149.2 *

147.6 **

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