Monero / Dollar may fall to 162.5 - 164.5

Our pivot point is at 172.9.

Our preference

Under pressure below 172.9.

Alternative scenario

The upside breakout of 172.9, would call for 176.2 and 178.1.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 170.1 and 169.8).

Supports and resistances

178.1 **

176.2 *

172.9 **

171.6

168.5 last

164.5

162.5 **

160.6 *

158.7 **

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