Lossless (LSS)
LSS has been moving down in a descending channel. Once again the price has reached the upper line of the channel. If the channel breaks, a major ascending wave can be expected.
Note
LSS has broken the descending channel and the uptrend wave started.
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So, LSS has reached the support bottom area again, broke the downtrend line, and bounced off it. Let's see if it can start another upward wave.
P.S. LossLess has a low trading volume and thus it is considered highly risky for trading.
Note
LossLess moves in a Fan-like movement; that is, it is better to analyze its movement with a Fib Fan or Pitchfork Fan. Anyway, It seems LSS has started a major upward impulse wave. Let's see if LSS can reach the first horizontal resistance area.
P.S. LossLess trading volume has gone up but is still low and below 500K. Let's see if its 24H trading volume can reach 1M.
Note
So, LSS couldn't break the first horizontal resistance area and came down. It seems an inverted wedge pattern is formed, and thus LSS could break this area in the next upward wave, which is about to start at the bottom of the pattern.
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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.