AppCoin has found the bottom at 3784 satoshis while forming a bullish divergence on the RSI oscillator. The started to consolidate forming the resistance at 5800 satoshis. But recently APPC/BTC managed to close above the resistance as well as 50 Moving Average.
In combination with the bullish divergence these are the first signs of a potential correction up or a trend reversal. There are two targets to watch. First is at 11k satoshis, if broken price is likely to continue rising towards the second target at 17k satoshis. And only brake above the 17k should confirm the trend reversal and would potentially send price to the new all-time high.
On a downside, price could correct down, towards either the 50 Moving Average or the uptrend trendline. But, daily break and close below the 3780 satoshis low should invalidate bullish outlook.
@hitech, I mean what do you believe it's going to do short term.I wanted to know what is your opinion about that.Yeah it did form a nice uptrend indeed, but the last 2-3 days it was one of the worst performing coins on binance.
CryptoPAMM
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@grecoinz, short term consolidation is possible and even a little more down, but overall trend is bullish
grecoinz
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@hitech, Well it highly depends on how btc will move i guess.Let's hope for the best.I 'm into this project but it needs guts of steel lately to remain calm. ^_^