Cardano / Dollar may rise to 0.3322 - 0.3373

Our pivot point is at 0.3149.

Our preference

Rebound towards 0.3373.

Alternative scenario

Below 0.3149, expect 0.3065 and 0.3015.

Comment

The RSI is trading below 30. This could mean that either the price is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.3253 and 0.3324).

Supports and resistances

0.3473 **

0.3423 *

0.3373 **

0.3322

0.3215 last

0.3182

0.3149 **

0.3065 *

0.3015 **

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