Monero / Dollar may rise to 160.9 - 162.7

Our pivot point is at 154.0.

Our preference

The upside prevails as long as 154 is support.

Alternative scenario

Below 154.0, expect 150.9 and 149.1.

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 trading above both its 20 and 50 period moving average (respectively at 153.2 and 152.3). Finally, the Monero / Dollar is trading above its upper Bollinger band (standing at 156.2).

Supports and resistances

166.4 **

164.5 *

162.7 **

160.9

156.6 last

155.2

154.0 **

150.9 *

149.1 **

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