Suku has formed a nice bull flag here after breaking out of its falling wedge.
Confluence: Golden cross on the 50/200 day MA (dotted), and has been sitting in between the 50 and 200 day EMA for 40 straight days now, and is one of few in the crypto market that has yet to break above its 200 day EMA.
Targets remain the same as on my previous post. We could even see 15 cent area near the 200 day SMMA since this has been dragging out so long. Previous posts are here and here:
Higher targets near 15.6, but awaiting channel break:
Original falling wedge post:
Long-term, but long-shot hopium chart:
Confluence: Golden cross on the 50/200 day MA (dotted), and has been sitting in between the 50 and 200 day EMA for 40 straight days now, and is one of few in the crypto market that has yet to break above its 200 day EMA.
Targets remain the same as on my previous post. We could even see 15 cent area near the 200 day SMMA since this has been dragging out so long. Previous posts are here and here:
Higher targets near 15.6, but awaiting channel break:
Original falling wedge post:
Long-term, but long-shot hopium chart:
Note
Zooming in to see how that double-bottom is performing on the weekly, 2nd bottom was lower than previous ATL, the current push up broke above that ATL and is re-testing the top of it now where our bull flag sits:Note
Update, daily broke and closed above the flag and a 4h chart wedge and is presently re-testing the top of the 4h chart's wedge:Note
Daily just closed with a successful re-test - candle closed above both the daily trend if broke above, and the 4 hour wedge, wick low bounced above the 50 day MA/EMA (not quite reaching it), continues to look bullish, expecting a move soon:Note
Update - flag broken and re-test successful, channel breakout and re-test successful, suku move up to either set of targets is likely imminent:Note
Update - it is pretty much time for a move to occur if it's going to happen, we've broken above several trends, very slowly and drawn out over a decent amount of time - the longer it takes, the bigger the move, let's see:Zoomed in:
Zoomed out:
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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.