Cardano / Dollar may rise to 0.3483 - 0.3535

Our pivot point is at 0.3286.

Our preference

The upside prevails as long as 0.3286 is support.

Alternative scenario

Below 0.3286, expect 0.3198 and 0.3145.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (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 0.3268 and 0.3300). Finally, the Cardano / Dollar is trading above its upper Bollinger band (standing at 0.3363).

Supports and resistances

0.3641 **

0.3588 *

0.3535 **

0.3483

0.3373 last

0.3321

0.3286 **

0.3198 *

0.3145 **

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