Monero / Dollar may rise to 208.2 - 222.7

Our pivot point stands at 159.4.

Our preference

The upside prevails as long as 159.4 is support.

Alternative scenario

The downside breakout of 159.4 would call for 135 and 120.6.

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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 154 and 139.2).

Supports and resistances

251.8 **

237.2 *

222.7 **

208.2

179.1 last

168.9

159.4 **

135.0 *

120.6 **

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