Hopefully the crash has ended!
I have watched XVG already earlier.
After the sudden crash, perhaps initiated by some regulations or because of the New Year Festival in China (people need money to buy presents) cryptocurrencies are returning to normal.
Some faster than others.
For XVG for example I didn´t changed the TA - it was still active, even the fib retracement.
The price has just broken through the resistance (now support) at fib retracement 38.2% (11.8$).
I think that on this level one can slowly step in. The potential is really interesting: 58% to the next fib retracement at 61.8% (I do not care about the 50% retracement).
indicators (4h):
RSI: 54 (slightly bullish)
MACD: below 0 but rising
ADX: -DI is falling; + DI is rising (both at 20 now), Momentun is falling
Volume: below medium
conclusion:
I do not expect a fast rise to the next fib retracement. But after a short time period with sideways direction climbing prices seem to be possible.
I have watched XVG already earlier.
After the sudden crash, perhaps initiated by some regulations or because of the New Year Festival in China (people need money to buy presents) cryptocurrencies are returning to normal.
Some faster than others.
For XVG for example I didn´t changed the TA - it was still active, even the fib retracement.
The price has just broken through the resistance (now support) at fib retracement 38.2% (11.8$).
I think that on this level one can slowly step in. The potential is really interesting: 58% to the next fib retracement at 61.8% (I do not care about the 50% retracement).
indicators (4h):
RSI: 54 (slightly bullish)
MACD: below 0 but rising
ADX: -DI is falling; + DI is rising (both at 20 now), Momentun is falling
Volume: below medium
conclusion:
I do not expect a fast rise to the next fib retracement. But after a short time period with sideways direction climbing prices seem to be possible.