Monero / Dollar may fall to 152.9 - 154.7

Our pivot point stands at 161.8.

Our preference

The downside prevails as long as 161.8 is resistance.

Alternative scenario

Above 161.8, look for 164.8 and 166.6.

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 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 163 and 167.2).

Supports and resistances

166.6 **

164.8 *

161.8 **

160.6

159.3 last

154.7

152.9 **

151.1 *

149.3 **

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