Binance Coin / Dollar may fall to 561.7 - 567.5

Our pivot point stands at 586.9.

Our preference

The downside prevails as long as 586.9 is resistance.

Alternative scenario

The upside breakout of 586.9, would call for 596.6 and 602.4.

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 584.7 and 586.4).

Supports and resistances

602.4 **

596.6 *

586.9 **

583.1

579.1 last

567.5

561.7 **

556.0 *

550.2 **

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