Monero / Dollar may rise to 177.3 - 179.2

Our pivot point is at 170.3.

Our preference

The upside prevails as long as 170.3 is support.

Alternative scenario

Below 170.3, expect 167.1 and 165.1.

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 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 168.2 and 165.6).

Supports and resistances

183.1 **

181.2 *

179.2 **

177.3

173.1 last

171.6

170.3 **

167.1 *

165.1 **

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