Monero / Dollar may fall to 152.6 - 154.3

164.0 is our pivot point.

Our preference

The downside prevails as long as 164 is resistance.

Alternative scenario

Above 164.0, look for 167.0 and 168.8.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). 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 165.4 and 166.7).

Supports and resistances

168.8 **

167.0 *

164.0 **

162.8

158.1 last

154.3

152.6 **

150.8 *

149.0 **

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