On the above 1-day chart price action has corrected a massive 92% since August 2020. A number of reasons now exist to be bullish, including:
1) A ‘incredible buy’ signal prints.
2) Bull market is confirmed. A life cross is printed as the 50-day SMA (blue line) crosses up the 200-day SMA (red line) AND price action is above the 200-day SMA.
As far as I can tell this is the first life cross ever for this token following a ‘buy’ signal. It has never happened before.
3) Trend reversal. Two higher highs and one higher low. Fantastic.
4) RSI and price action resistance breakout (better seen on weekly below).