Cardano / Dollar may rise to 0.3974 - 0.4033

Our pivot point stands at 0.3762.

Our preference

The upside prevails as long as 0.3762 is support.

Alternative scenario

Below 0.3762, expect 0.3661 and 0.3602.

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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.3779 and 0.3740). Finally, the Cardano / Dollar has crossed above its upper Bollinger band (0.3843).

Supports and resistances

0.4153 **

0.4093 *

0.4033 **

0.3974

0.3850 last

0.3801

0.3762 **

0.3661 *

0.3602 **

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