Cardano / Dollar may rise to 0.4506 - 0.4560

Our pivot point stands at 0.4305.

Our preference

The upside prevails as long as 0.4305 is support.

Alternative scenario

Below 0.4305, expect 0.4214 and 0.4161.

Comment

The RSI is trading above 70. This could mean that either the price is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.4275 and 0.4239). Finally, the Cardano / Dollar is trading above its upper Bollinger band (standing at 0.4372).

Supports and resistances

0.4668 **

0.4614 *

0.4560 **

0.4506

0.4398 last

0.4340

0.4305 **

0.4214 *

0.4161 **

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