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Ethlend: Descending Wedge Formation - Potential 50% Increase There is an indication that Ethlend is entering a reversal trend because of a descending wedge pattern formation. Here, there is a contracting range between the highs and lows of Ethlends reversal which is an indication that the downtrend is running out of steam. Furthermore, the support line of the descending wedge pattern is about to meet its resistance line within the next few days. If there is a break above the resistance line then there is a potential for a 50% increase in profits to meet near the top of the descending wedge pattern. Stop loss is below the support line indicated in red.
LLong
by TokenPigeon
Lend, Where Is the End?There isn't any obvious support in the area that we're in. The price previously went as low as 822 so we will have to see if it reaches that price again. If it does hit the 820's and bounce back up, that would be a good indication of support. I've drawn in channel lines showing the most recent trend. We will continue to trade down until we break the upper channel. The rsi is currently in oversold territory. Anytime the rsi is oversold or overbought, a price reversal usually follows. Bitcoin has been bullish all day. When btc makes a run altcoins generally fall. That's the nature of this market and it's important to keep that in mind while making your trades. Once btc cools down we will most likely see lend recover. On our way back up, watch out for the 55 and 200 ema as they will act as resistance. If you look to the left side of the chart you will see that I've circled a few candles. Notice how the wick of each candle is significantly higher than the body. This implies that there was struggle to get above the ema's. When trading across the ema's we first want to close above it. Then we want to bounce off of it to confirm support. So that's something we will look for if we see the price trend up.
LLong
by bensonwithin
Lend!We can see the price has been trading between support and resistance since the beginning of February and we are now approaching support yet again. The first line of support has been very recreational and has provided support several times. Normally I would only have one major line of support but due to the volatility of crypto I've extended another level of support to include the two recent prices movements below the initial support. Every time we've seen it hit this support zone it bounces back up. For educational purposes only, I have drawn a green rectangle to indicate a buy zone. A strategy for buying in support zones is to set buy orders from the top of the support zone to the bottom. This way if the price drops lower than your first buy order, your second buy order will average out the cost. This will minimize risk and maximize returns. If we see a bounce off of support, be cautious when we approach the 200 ema which is the bold purple line. In recent price action, it has acted as overhead resistance. We would need to see more volume than we have currently to break through that ema so be sure to pay attention to the volume.
LLong
by bensonwithin
LEND POSSIBLE 250% MOVE ???Hello everyone, Here's my thought on what could happen to ETHLend in the close future, especially with the BTC possible 5th wave starting. LEND will not avoid the hit but definitely has an AMAZING potential of bouncing right back up where it belongs and it could go VERY FAST. Remember risk vs reward is what you should be hunting in this crazy volatile market. RISK MANAGEMENT should be your priority. This being said, there's no hurry to get in this one. Just keep an eye on it and let the chart show you the way :) Again, this is not a guaranteed move but VERY possible. BE SMART. Thanks for sharing if you liked :) Pan / CryptoCerwin Twitter : twitter.com
LLong
by Pancarte
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