Trade setup: Price remains in an Uptrend. It got rejected at $2.50 resistance and is consolidating in a Falling Wedge pattern. We wait for a breakout. In case of a bullish breakout in the direction of existing Uptrend, price could revisit $2.50. Also, notice that price is approaching a robust support zone around $1.55 and 200-day moving average.
Pattern: Falling Wedge. It usually forms after a downtrend and suggests a potential bullish reversal in the original downtrend. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order.
Trend: Downtrend on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $1.85, which it broke, then $1.55. The nearest Resistance Zone is $2.50, then $3.00.
Pattern: Falling Wedge. It usually forms after a downtrend and suggests a potential bullish reversal in the original downtrend. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order.
Trend: Downtrend on Short-Term basis and Uptrend on Medium- and Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $1.85, which it broke, then $1.55. The nearest Resistance Zone is $2.50, then $3.00.
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.