ARX/USDT 30% DISCUSSIONI tend to consider the geometrical implications upon price charts, and when I notice that one section of a price chart has a different level of steepness than the other previous level, I tend to consider that a new trend based on momentum and price range. I don’t just look at one time frame per price chart, but let’s look at this 1D chart of ARX (which is up 30% today and yesterday). I’ve pointed out the new trend that we may be in right now in blue lettering. Let’s take a look at these technical indicators…
CCI- Since the new trend has begun I’m noticing that there is a struggle for price to move upwards, yet there is volatile pullback from nearly every line of resistance. The final pullback reaches lower than the other lines of support since after the reversal of the beginning of this trend, and doesn’t break the original line of support since the beginning of this trend.
RSI- I’m seeing a healthy increase of value with small volatile pullbacks. One final pullback from the rise in value doesn’t break previous ground since this trend, and as a result value goes up with price.
Momentum-
Momentum recovers from initial fall since new trend, and stays balanced in a nearly sideways fashion, which could indicate that volatility is healthy and doesn’t have too much or too little change, which could be sort of a welcoming sign for many investors. Momentum wasn’t going down, so this gives investors reason to take this cryptocurrency seriously.
CHOPPINESS INDEX-
I don’t have much to say here, but I noticed the value of this indicator had went down before this initial jump in price, although it didn’t break previous value, therefore my guess is that this indicator’s value will increase either mid or mid high.
