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$EMC TA v2

By blakeren
Updated
EMC has just recently bounced from support and is setting up for huge gains. You can see the massive increase in volume since the end of August, as well as the OBV uptrend is showing clear interest in the coin. Since the obscene volume increase, the price has actually dropped about 75%. With the MACD showing a decreased amount of divergence, it looks as though we are about to see quite a bull run. First target will be to break the current resistance we are sitting on now, before looking to break descending resistance. Once this happens we could look to head to a new ATH. Before this however, we may see some resistance at the lines located at 57k and 72k sats.This would see profits of almost 750%
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Descending resistance broken, however may see the whole market in general correct. Could look to retest this line
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Looks like it could keep going to test the next resistance line at 57.7k sats. Keep watching Bitcoin though as that could be key
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72k sats inbound. This was July's high so if we can surpass this, then 120k will be in our sights
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EMC is currently showing bearish divergence on the 4hr. Taking a large portion of my position out as the daily chart is really overbought.

snapshot
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Sorry wrong chart

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Chart PatternsTrend Analysis
blakeren
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