Cardano / Dollar may rise to 0.4763 - 0.4834

Our pivot point is at 0.4473.

Our preference

The upside prevails as long as 0.4473 is support.

Alternative scenario

The downside breakout of 0.4473 would call for 0.4356 and 0.4286.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.4534 and 0.4509). Finally, the Cardano / Dollar has crossed above its upper Bollinger band (0.4590).

Supports and resistances

0.4975 **

0.4904 *

0.4834 **

0.4763

0.4622 last

0.4519

0.4473 **

0.4356 *

0.4286 **

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