Our pivot point is at 0.3923.
Our preference: the upside prevails as long as 0.3923 is support.
Alternative scenario: the downside breakout of 0.3923 would call for 0.3838 and 0.3788.
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 trading above both its 20 and 50 period moving average (respectively at 0.3940 and 0.3894). Finally, the Cardano / Dollar has crossed above its upper Bollinger band (0.4004).
Supports and resistances:
0.4267 **
0.4216 *
0.4166 **
0.4115
0.4009 last
0.3956
0.3923 **
0.3838 *
0.3788 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 07-11-2024 at 16:53 UTC+1
Price reference: 0.4009 last known on 07-11-2024 at 16:53 UTC+1
Investment horizon: INTRADAY
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