Bread Coin Moving Higher
Bread coin has found the bottom at $0.4, where it has rejected the uptrend trendline cleanly. This could be the continuation of the long term uptrend, but for this at least one more confirmation is required.
BRD/USD is currently trading at 50 Moving Average, which could act as a resistance. But when price will close above it, BRD is very likely to continue moving higher. The nearest upside target is at 38.2% Fibonacci retracement level, that is $0.6. This resistance corresponds to the 2/1 Gann Fan trendline as well as previous levels of support and resistance.
If Bread coin will break above that resistance, it could trigger stronger moves upwards and potentially might result in price producing a new all-time high. On the other hand, break below the $0.4 support would invalidate bullish outlook and could send price lower.
BRD/USD is currently trading at 50 Moving Average, which could act as a resistance. But when price will close above it, BRD is very likely to continue moving higher. The nearest upside target is at 38.2% Fibonacci retracement level, that is $0.6. This resistance corresponds to the 2/1 Gann Fan trendline as well as previous levels of support and resistance.
If Bread coin will break above that resistance, it could trigger stronger moves upwards and potentially might result in price producing a new all-time high. On the other hand, break below the $0.4 support would invalidate bullish outlook and could send price lower.
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