LMND in Falling wedge and strong support at 61USD (Possible 75%)
Currently we are trading at ~63USD. LMND found support yesterday at 61USD line, which gave as already support beginning of October. In between a head an should pattern (green) was formed on 1h chart, which technical price target was around 58.66USD (red arrow). This wasn't reach since the support at 61USD seems to be really strong.
Many users identified already this long running falling wedge (with some deviation depending on user drawing). The falling wedge I have in mind startet beginning of June on the 4h charts (purple lines).
Now it is becoming really tight situation the 61 is support from below the upper and upper line of the falling edge built resistance from above. Since the support at 61 seems to be strong I expect a break out to the updside, which would mean a technical price target of around 110USD, which would mean +75%. Maybe the 100USD will be a strong resistance, which may be a first hurdle.
Many users identified already this long running falling wedge (with some deviation depending on user drawing). The falling wedge I have in mind startet beginning of June on the 4h charts (purple lines).
Now it is becoming really tight situation the 61 is support from below the upper and upper line of the falling edge built resistance from above. Since the support at 61 seems to be strong I expect a break out to the updside, which would mean a technical price target of around 110USD, which would mean +75%. Maybe the 100USD will be a strong resistance, which may be a first hurdle.
Trade aktif:
Yesterday the break-out on the higher wedge trendline was perfectly confirmed shortly after market opening. Technical price target is now around 110USD.