Midterm forecast: While the price is above the support 0.0235, beginning of uptrend is expected. We make sure when the resistance at 0.0480 breaks. If the support at 0.0235 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A peak is formed in daily chart at 0.0285 on 05/09/2020, so more losses to support(s) 0.0246 and minimum to Major Support (0.0235) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index ( RSI ) is 50.
Trading suggestion: There is possibility of temporary retracement to suggested Buy Zone (0.02455 to 0.02350). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
Beginning of entry zone (0.02455) Ending of entry zone (0.02350)
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