Electroneum pushes sideways but for how long??Hello everyone and welcome back. Hope everyone is having a great summer! Looking at the #ETN chart we can see sideways action over the past few weeks. In my last updated, I did mentioned this was to be expected, even after the upgrades to Electroneum's blockchain. The reason is simple, we have more hodlers and sellers then buyer. Now, thanks to the upgrades and partnering with NGOs for mining purposes, as well as others, we see less selling pressure. In the chart above I outlined two things.
1) Descending Wedge - If ETN follows this wedge downward then it is likely we can see low 20s, which was the case when we were in the mid 40s and I called mid 30s. However, even if we dip to low 20s I believe it will be short lived. The other possible scenario is that we break the wedge sooner within the next 10 days and continue with the sideways action between 40 - 60 sats. We need to wait for confirmation before deciding on the direction of ETN long term.
2) The bottoming Curve - When a trading asset bottoms out, it creates a curve where the price initially spikes after tremendous downward pressure then it creates a lower low and begins to move sideways along this curve until it breaks free to the upside. In about 10 days we should be around the middle of this curve.
Electroneum is a project that showed great potential from day one, but the direction of the company was never clear until NOW. After the last blockchain upgrade we have a clear understand of where the team wants to take us. The next half of 2019 is looking very promising. If there was ever a time to accumulate and fill your bags it would be now!
Everyone enjoy your summer, keep your bags safe and don't believe the FUD. The greatest things in life come at a great price so patience is key.
This is not investment advice. This is only for educational and entertainment purposes.
Awareness619
Cleanenergy
Long Vivint Solar (VSLR)- Bullish on NYSE:VSLR
- Stock broke above a short-term symmetrical triangle pattern.
- Prices are supported by a rising trend line
- MACD broke above the signal line while MFI is turning up (>50)
- On a weekly chart, the stock is trading within an ascending triangle pattern.
Oil now at a solid floorKILLED it in TVC:USOIL today. Thought I shorted when it was ready to reverse but I held out and it paid off. Now, I'm not so sure it's gonna just keep falling as it has been. The one thing making me think it might is our very SLOOOOWWWWW transition into clean energy. Cant help but wonder if the recent downtrend stems from things we dont fully know about.....anyway.......
Last time we broke through this level, we hit a support then went back up. Things were different then, though. Remember that when basing support and resistance off historical key levels, times, politics, policies etc...were different. I use them as guides but not precise measurements to trade off.
Lately, I've been using volume profile on fixed and visible range to see where limit orders might be. Been proving rather accurate.
any tips and info on using volume profile with price action are encouraged.
Thank you for your time.
Flag Pennant Breakout Giving $0.85c TargetHazer Group today broke out on light volume. The previous move (spurred by material news in regards to their graphite and hydrogen technology) of ~65% from $0.41 to $0.68 represents a move of $0.27 which gives this latest movement a target of $0.85. This also correlates with the historical all-time high.
Since the initial move the on 3/10/17 the previous price action has consolidated on declining volume indicating that sellers are done, the move to the upside confirms this.
With a HOA recently announced with ASX:MIN for the development of a battery grade graphite plant and a further MOU signed with Primetals for investigation of hydrogen refinement of iron ore there are several progressions possible which may act as catalysts in the near term.
“Hazer’s mission is to play a significant role across three multi-billion dollar global markets. Hazer’s technology can potentially provide an innovative solution for the global industrial hydrogen market, by producing hydrogen at lower cost than alternative options, while also reducing users’ CO2 footprint. The low-emissions associated with the Hazer Process also potentially provides a gateway for hydrogen to more effectively penetrate the sustainable energy market for both vehicle fuel and stationary power applications. Hazer is also looking to provide high quality synthetic graphite for energy storage and other large global graphite applications.”
www.hazergroup.com.au
