Monero / Dollar may rise to 179.4 - 181.4

Our pivot point is at 171.4.

Our preference

The upside prevails as long as 171.4 is support.

Alternative scenario

Below 171.4, expect 168.2 and 166.2.

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 170.6 and 171.1).

Supports and resistances

185.3 **

183.3 *

181.4 **

179.4

175.5 last

172.7

171.4 **

168.2 *

166.2 **

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