Cardano / Dollar may rise to 0.4756 - 0.4824

Our pivot point stands at 0.4525.

Our preference

As long as 0.4525 is support look for 0.4824.

Alternative scenario

The downside breakout of 0.4525 would call for 0.4411 and 0.4343.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The price could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.4615 and 0.4589).

Supports and resistances

0.4960 **

0.4892 *

0.4824 **

0.4756

0.4617 last

0.4570

0.4525 **

0.4411 *

0.4343 **

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