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The weekly chart reveals that the price has broken down from a long-term ascending support line and validated it as resistance afterwards. This view is also strengthened by the fact that the rate was rejected by the 200-week MA thrice prior to the price breaking down. The final time, it created a shooting star weekly candlestick, which often indicates a trend reversal. So far, it has created three consecutive lower highs.
The most important support level is at 62.5%, which mark the wick low of Feb 10-17. If the rate decreases below it, it could fall all the way to 52.5%, levels not seen since April 2019.
Previously, the rate traded inside this range from September 2018 to April 2019, a period which was very profitable for altcoins. If the price falls within this range once more, it is possible that it would have a similar effect.
The weekly chart reveals that the price has broken down from a long-term ascending support line and validated it as resistance afterwards. This view is also strengthened by the fact that the rate was rejected by the 200-week MA thrice prior to the price breaking down. The final time, it created a shooting star weekly candlestick, which often indicates a trend reversal. So far, it has created three consecutive lower highs.
The most important support level is at 62.5%, which mark the wick low of Feb 10-17. If the rate decreases below it, it could fall all the way to 52.5%, levels not seen since April 2019.
Previously, the rate traded inside this range from September 2018 to April 2019, a period which was very profitable for altcoins. If the price falls within this range once more, it is possible that it would have a similar effect.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.