Cardano / Dollar may rise to 0.4977 - 0.5048

0.4727 is our pivot point.

Our preference

The upside prevails as long as 0.4727 is support.

Alternative scenario

Below 0.4727, expect 0.4608 and 0.4538.

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 0.4702 and 0.4629).

Supports and resistances

0.5190 **

0.5119 *

0.5048 **

0.4977

0.4833 last

0.4774

0.4727 **

0.4608 *

0.4538 **

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