SPACE ID (ID)
Updated
SPACE ID is all in one domain manager for web3. It is a newly started project and there are not enough candles to see the big picture. Anyway, there is a downtrend channel in which price is descending. If this channel breaks upward, there is a possibility of an impulse wave. Let's see what happens.
Comment
After ID broke the downtrend line, it came down a little further and retested the bottom. It seems a triangle pattern has formed. Let's hope ID breaks it upward.
Comment
ID is still trying to break the triangle's downtrend line. Let's see if it can this time.
Comment
Here are ID's possible targets. Please don't FOMO. After ID reaches each target, its behavior must be re-evaluated; does it have enough momentum to go further up?
Comment
So, as it turned out, ID downtrend line was curved. And it seems ID broke this parabola-like line and started an upward wave.
Comment
ID broke the first horizontal resistance area, and now the correction is unfolding in a triangle pattern.
Comment
So, ID went up strong and broke both the minor inverted wedge and the major horizontal resistance area. And, now making a pullback; after that, upward continuation. Also, it is possible that ID might make a Cup and Handle pattern; if true, a significant rise is expected. Let's see what happens.
Comment
So, ID went up very strong and with momentum, completing the Cup part. Now, ID is in correction phase, unfolding the Handle part. This might take a while, but after finished, ID will continue the upward movement. Usually, when a Cup and Handle pattern completed, price can go as high as the width of the Cup. Let's see what happens.
Comment
Ready or not, here come the ID! Let's see what happens.
Comment
It seems, a minor triangle pattern is forming. Let's see when ID break this triangle upward.
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.