Cardano / Dollar may rise to 0.4254 - 0.4294

0.4108 is our pivot point.

Our preference

Look for a drop towards 0.4108 before a bounce.

Alternative scenario

The downside breakout of 0.4108 would call for 0.4040 and 0.4000.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.4170 and 0.4147).

Supports and resistances

0.4375 **

0.4334 *

0.4294 **

0.4254

0.4172 last

0.4134

0.4108 **

0.4040 *

0.4000 **

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