Our pivot point stands at 0.3624.
Our preference: the upside prevails as long as 0.3624 is support.
Alternative scenario: the downside breakout of 0.3624 would call for 0.3539 and 0.3488.
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 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 0.3633 and 0.3597). Finally, the Cardano / Dollar has crossed above its upper Bollinger band (0.3691).
Supports and resistances:
0.3959 **
0.3908 *
0.3857 **
0.3806
0.3696 last
0.3658
0.3624 **
0.3539 *
0.3488 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 09-24-2024 at 10:44 UTC+1
Price reference: 0.3696 last known on 09-24-2024 at 10:44 UTC+1
Investment horizon: INTRADAY
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