Monero / Dollar may fall to 168.5 - 170.5

Our pivot point stands at 178.3.

Our preference

The downside prevails as long as 178.3 is resistance.

Alternative scenario

The upside breakout of 178.3, would call for 181.7 and 183.8.

Comment

The RSI is below its neutrality area at 50. 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 176.3 and 175.5).

Supports and resistances

183.8 **

181.7 *

178.3 **

176.9

175.4 last

170.5

168.5 **

166.5 *

164.4 **

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