Binance Coin / Dollar may fall to 551.7 - 557.4

Our pivot point is at 579.5.

Our preference

The downside prevails as long as 579.5 is resistance.

Alternative scenario

Above 579.5, look for 589.1 and 594.8.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 578.8 and 584.7).

Supports and resistances

594.8 **

589.1 *

579.5 **

575.8

571.8 last

557.4

551.7 **

546.1 *

540.4 **

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