SpreadCoin Might Gain 50%SpreadCoin found the bottom at $0.23, that has been tested on the 13th of June. Since then price went up and today breaking above the 200 Moving Average, not to mention that price produce a new higher high.
This could be the beginning of a corrective wave up, or even a trend reversal. The very strong resistance is near $0.5 area, that is confirmed by two Fibonacci retracement levels applied through the two highs established on 30th of April and 23 of May. If the resistance will be reached, SPR/USD will gain over 50% and this could happen in a very near future.
The downside risk at this point is very low, however it SPR will go below already established support at $0.23, bears could once again begin to dominate this SpreadCoin.
SPRUSD
Spread Coin W PatternBITTREX:SPRUSD
Looking at the chart of Spread Coin in terms of dollars, it seems like we are making a W pattern in the long term, thepatternsite.com , which means that we make a double bottom, in this case around $0.20 USD, and a double top around $3.60 USD. In theory this pattern will be confirmed when we surpass $3.60 USD, in which case the price target will be at least twice that, about $7.20 USD. It is now trading at $0.35 USD. From there to $7.20 USD it will be about 20 to 1 return. And it is a very small cap coin, only $3.4 million dollars capitalization, coinmarketcap.com , it trades manly on Bittrex.
Besides all that, it has now surpassed the 20 and 50 day moving average to the upside, moving from as low as $0.18 USD to $0.35 that it is trading today. It has been showing a MACD positive divergence signal for a few months, which means MACD moving up while price was moving down, which was an early indication that price was about to change.
But more important, it is about to give us a full MACD buy signal when it surpass the cero level on that indicator, which looking at the chart, it seems like that could happen this week or next. The last time it happened the coin move from $0.40 USD to $3.60 USD in just 5 weeks. Well see what happens this time. All I’m saying is, it is looking good to me.
Anyway,
Good Luck in your Decisions
SPRBTC: Interesting chart...altcoin season started?I was doing some screening for technical patterns and found this chart. Fairly interesting setup, looks like it has good upside with low downside risk. The daily flashed a buy in $SPRBTC 4 days ago but weekly will confirm a buy in $SPRUSD this week on close, and considering the range expansion and increased volume, something is definitely cooking here. I'm not aware of fundamental developments, but feel free to comment below. For now, I'm just pointing this one out, since the chart is remarkable, upside wise.
Cheers,
Ivan Labrie.
Spread Coin SpikingBITTREX:SPRUSD
Spread Coin just started to spike up with huge volume the last two days, and that is after a huge decline from almost $3.00 dollars to just $0.20 dollars, right now it is sitting at $0.40 dollars. We also just got a MACD buy signal, which is very positive.
It just clear the 8 EMA and the 20 MA, and looking at the chart, there is no real resistance until at least the $1.00-dollar mark, which will also coincide with the 50 and 200 MA, and the 0.236 Fibonacci Level.
It looks like an easy bounce to the $1.00-dollar mark in the next 2 weeks or so. That is about 150% return from here.
It is a very, very, very small cap coin, with just $3.7 million dollars of market cap, with also huge long-term potential. But for that same reason, I wouldn’t put more than 20% of my portfolio in here.
coinmarketcap.com
I don’t see the big Alt. Coins like Ethereum, Ripple, Litecoin and others rallying big time before the Segwit2x Fork on Bitcoin, which is not due until the November 16, so this kind of trades seem like a good place to be for the time being.
Good Luck to You
