Monero / Dollar may fall to 156.4 - 158.2

Our pivot point stands at 165.8.

Our preference

Technical rebound towards 165.8 before a new drop.

Alternative scenario

The upside breakout of 165.8, would call for 168.9 and 170.7.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (159.4) but under its 50 period moving average (163.7).

Supports and resistances

170.7 **

168.9 *

165.8 **

164.6

162.8 last

158.2

156.4 **

154.6 *

152.8 **

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