EGLD against USDT is currently in an accumulation phase of 8 months and has printed a descending channel. It is currently in the middle of this channel. If we draw a Fibonacci Retracement from the Swing Low ($32) to the Swing High ($54.2), analyzing the period being 2023, we are around $38-39, which is at the 61.8% level.We are preparing a buy order at this level, and we are also considering a DCA of around $34-35. In the event that the swing low of $32 is lost, we will wait for the validation of a new swing low and the closing of a candle above the MA21 on a 1-day timeframe.
We anticipate a target towards the MA233 zone ($47), and once this descending channel is broken, we will set our take profit towards $65-75.
Typically, this type of accumulation requires great patience and discipline
Nota
close to breakoutover 300 days of accumulation
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.