I have taken the Band /USDT in the daily chart.
There is a resistance outlined by historical data evidencing a resistance forthcoming and there is this tunnel the coin pricing has entered.
I suggest that Band Protocol will use the tunnel lower line as a support line, bounce upon it towars the higher range hitting the historical resistance, coming back down to test support of the tunnel before passing through towards new highers pricings levels.
This is very subjective I reckon and we can anticipate the coin will not do the whole thing as simply as the three half-circles shown but the theoretical idea is there.
Obviously taking your comments on the matter :-)
I am newbie on TA so any comments appreciated.
Best regards
There is a resistance outlined by historical data evidencing a resistance forthcoming and there is this tunnel the coin pricing has entered.
I suggest that Band Protocol will use the tunnel lower line as a support line, bounce upon it towars the higher range hitting the historical resistance, coming back down to test support of the tunnel before passing through towards new highers pricings levels.
This is very subjective I reckon and we can anticipate the coin will not do the whole thing as simply as the three half-circles shown but the theoretical idea is there.
Obviously taking your comments on the matter :-)
I am newbie on TA so any comments appreciated.
Best regards