The four-time world time-trial champion tumbled on a right-hand corner in the final stages of the Road Race while in the leading group, but avoided a broken bone.
The 31-year-old, who fractured a collarbone during the Tour of Flanders in April, said: 'I am an optimist and now I hope the training today will show if the position on the Time Trial bike suits me and if I can go forward.
I feel better with every hour passing. The pain is still there, but I am in good hands. I am a hard man.
Fabian Cancellara
'I feel better with every hour passing. The pain is still there, but I am in good hands. I am a hard man. I've had a lot of things happen this year.
'I have to look ahead to the next few hours and days to come to try to get the maximum potential of a good feeling in my body. Now I have to see how I sit on the TT bike.
'Maybe everything turns out okay. The mental aspect is important. I have two legs and I can ride. I have been training many, many hours for the Olympics. We will just have to see how it goes.'
Swiss team doctor Andreas Goesele said: 'It's almost like he's had a car crash, with a whiplash injury.'
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