Binance Coin / Dollar may fall to 564.0 - 568.7

588.5 is our pivot point.

Our preference

The downside prevails as long as 588.5 is resistance.

Alternative scenario

The upside breakout of 588.5, would call for 596.5 and 601.3.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 584 and 591).

Supports and resistances

601.3 **

596.5 *

588.5 **

585.3

582.0 last

568.7

564.0 **

559.3 *

554.5 **

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