Cardano / Dollar may rise to 0.4069 - 0.4107

Our pivot point stands at 0.3927.

Our preference

The upside prevails as long as 0.3927 is support.

Alternative scenario

The downside breakout of 0.3927 would call for 0.3864 and 0.3826.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.3894 and 0.3860).

Supports and resistances

0.4183 **

0.4145 *

0.4107 **

0.4069

0.3977 last

0.3952

0.3927 **

0.3864 *

0.3826 **

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