Cardano / Dollar may fall to 0.3904 - 0.3953

0.4147 is our pivot point.

Our preference

The downside prevails as long as 0.4147 is resistance.

Alternative scenario

The upside breakout of 0.4147, would call for 0.4231 and 0.4281.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.4126 and 0.4140). Finally, the Cardano / Dollar is trading below its lower Bollinger band (standing at 0.4064).

Supports and resistances

0.4281 **

0.4231 *

0.4147 **

0.4114

0.4054 last

0.3953

0.3904 **

0.3854 *

0.3804 **

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