Monero / Dollar may fall to 162.1 - 164.0

170.9 is our pivot point.

Our preference

The downside prevails as long as 170.9 is resistance.

Alternative scenario

Above 170.9, look for 174.1 and 176.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). 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 170.5 and 169.5). Finally, the Monero / Dollar has penetrated its lower Bollinger band (168.1).

Supports and resistances

176.0 **

174.1 *

170.9 **

169.6

167.9 last

164.0

162.1 **

160.2 *

158.3 **

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