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Newscryptoio

[NWC] Great Potential After Descending Channel Breakout + FAHi everyone, in this analysis I will go in-depth on the technical and fundamental state for NWC/USDT and explain why this is one of my favorite projects at the moment. Let's start with the technicals. We see a very interesting support zone at the bottom. This horizontal support zone has extra strength. We have seen it being tested on many occasions. Upon closer inspection, you probably wouldn't be surprised to notice that this level is exactly at the 0.160000 level. This 16 cents USDT level is at a beautiful round number, a level marked by psychological importance. And again, exactly after hitting the support zone the price immediately took off roughly one day ago. This is bullish price behavior, confirming support. Then, we see the all-time-high resistance. Many times prices struggle to overcome the resistance of an all time high on the first run. You can decide to use this zone as a take profit for your first trade, or hold beyond it for a second target. I highlighted the area above the horizontal ath resistance as the moon zone. You can choose to hold beyond the ATH to see great potential returns, because when the price does break through it often goes to spectacular new highs, such as what we've seen on NWC in July and August. Then, finally we see that the price broke upwards out of a descending parallel channel. Another bullish signal that combined with the support zone gives a great outlook for the price. I suggest a long trade from the 20 cents region exactly at the S/R flip level. As for the fundamental aspect of this analysis, I have been taking a closer look at the upcoming events. The most interesting even coming in the next few months is the launch of their mobile app. As with all their product launches I expect that they will market this product aggressively when it does launch. Furthermore, based on the announcement we can see that this app will compete with the major top crypto apps such as Blockfolio and Coinmarketcap (and including new features such as AI-based project rating) giving a very bullish potential to such a low marketcap coin. Current the launch date is planned for December this year still, so if we link this information back to a trade I suggest to hold your long position at least until when the app is launched to fully get the benefits. Make sure though to realize that future value is often calculated in the current price, so don't wait until the app is actually officially launched. The price might already increase before it as the launchdate comes closer. Another positive thing is that the NWC utility token will be used within this app, giving us another indication of a likely increase in demand. Basic laws of economics teach us that when supply stays stable and demand goes up, the price will increase. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
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