Binance Coin / Dollar may rise to 715.7 - 721.9

Our pivot point stands at 689.6.

Our preference

The upside prevails as long as 689.6 is support.

Alternative scenario

The downside breakout of 689.6 would call for 679.2 and 673.1.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 671.1 and 644.3).

Supports and resistances

734.3 **

728.1 *

721.9 **

715.7

699.2 last

693.6

689.6 **

679.2 *

673.1 **

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