Binance Coin / Dollar may fall to 646.0 - 651.8

Our pivot point stands at 677.1.

Our preference

The downside prevails as long as 677.1 is resistance.

Alternative scenario

Above 677.1, look for 687 and 692.9.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 675.5 and 680.5). Finally, the Binance Coin / Dollar is trading below its lower Bollinger band (standing at 666.7).

Supports and resistances

692.9 **

687.0 *

677.1 **

673.2

666.6 last

651.8

646.0 **

640.1 *

634.2 **

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