Cardano / Dollar may fall to 0.3316 - 0.3372

0.3579 is our pivot point.

Our preference

The downside prevails as long as 0.3579 is resistance.

Alternative scenario

Above 0.3579, look for 0.3674 and 0.3730.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.3604 and 0.3642).

Supports and resistances

0.3730 **

0.3674 *

0.3579 **

0.3542

0.3484 last

0.3372

0.3316 **

0.3259 *

0.3203 **

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