Cardano / Dollar may rise to 0.4261 - 0.4302

Our pivot point is at 0.4094.

Our preference

The upside prevails as long as 0.4094 is support.

Alternative scenario

The downside breakout of 0.4094 would call for 0.4027 and 0.3987.

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 trading above both its 20 and 50 period moving average (respectively at 0.4106 and 0.4067).

Supports and resistances

0.4382 **

0.4342 *

0.4302 **

0.4261

0.4173 last

0.4121

0.4094 **

0.4027 *

0.3987 **

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