The counter is currently in a rising wedge formation.
It is currently at the lower trendline and the price action suggests strong support at the current level.
Further, the pattern can also be construed as an Elliott wave, as in the chart.
Hence, we expect the pair to move to the upper trendline for now.
It is currently at the lower trendline and the price action suggests strong support at the current level.
Further, the pattern can also be construed as an Elliott wave, as in the chart.
Hence, we expect the pair to move to the upper trendline for now.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.