Cardano / Dollar may rise to 0.4626 - 0.4695

Our pivot point stands at 0.4379.

Our preference

Look for a drop towards 0.4379 before a bounce.

Alternative scenario

The downside breakout of 0.4379 would call for 0.4265 and 0.4196.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (0.4493) but above its 50 period moving average (0.4486).

Supports and resistances

0.4832 **

0.4763 *

0.4695 **

0.4626

0.4489 last

0.4424

0.4379 **

0.4265 *

0.4196 **

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