After breaking through the resistance area near $5.5 (on the background of listing on Kucoin) the asset failed to consolidate at this level. There was a logical correction to the uptrend line, but on the background of unstable market, the price broke it.
Now for two weeks, the asset is moving in a sideways channel.
What can we expect?
If the asset decreases below the support level near $4.10, you can expect a further decline in price to the nearest Fibo level of 0.618.
Decrease below the target important Fibo levels on the chart is also possible.
For the continuation of the upward movement the asset still needs to consolidate above $5.5
Now for two weeks, the asset is moving in a sideways channel.
What can we expect?
If the asset decreases below the support level near $4.10, you can expect a further decline in price to the nearest Fibo level of 0.618.
Decrease below the target important Fibo levels on the chart is also possible.
For the continuation of the upward movement the asset still needs to consolidate above $5.5
Catatan
Additions on the idea of tomiNetThe price as expected has reached the first downside target at 0.618 Fibo and is now moving sideways.
The level of 0.618 Fibo is now a good support zone for the asset.
To continue the uptrend, the asset needs to consolidate above $4.41.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.