Aragon went up from $1 up to $8 area, where it found the resistance and formed a double top. Price then declined down sharply and broke below the uptrend trendline and the 200 Moving Average.
The downside risk remains, where ANT/USD could decline to one of the Fibonacci support levels applied to the breakout point of the uptrend trendline. First strong support is at $2.4, if reached and broke further downtrend could be expected where Aragon could test $1.15 support level.
At the same time, it has to be mentioned that price also formed a double bottom at $3 area and if it continues to rise, breaking above the $5.77 resistance, the continuation of the uptrend would become a more likely scenario.
The downside risk remains, where ANT/USD could decline to one of the Fibonacci support levels applied to the breakout point of the uptrend trendline. First strong support is at $2.4, if reached and broke further downtrend could be expected where Aragon could test $1.15 support level.
At the same time, it has to be mentioned that price also formed a double bottom at $3 area and if it continues to rise, breaking above the $5.77 resistance, the continuation of the uptrend would become a more likely scenario.
Trade closed: target reached