Newbie in TA here - so bear with me!
Drawing some trend lines and channels and EMA50.
It looks to me:
- We are overbought (RSI)
- We hit the top channel resistance and moved down
- We are on the EMA50
From there I suppose we could be going down within the channel and maybe hit the long term support. That's my expectation.
Our we could bounce on the EMA50 and have a chance to break that downward channel.
Drawing some trend lines and channels and EMA50.
It looks to me:
- We are overbought (RSI)
- We hit the top channel resistance and moved down
- We are on the EMA50
From there I suppose we could be going down within the channel and maybe hit the long term support. That's my expectation.
Our we could bounce on the EMA50 and have a chance to break that downward channel.
Note
It decided to bounce on EMA50 and broke the downward channel. Fundamentally a very strong coin and valued less than others that don't even yet have a product.
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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.