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CEEKUSDT Channel Down aiming lower unless the 1D MA50 breaks

KUCOIN:CEEKUSDT   CEEK VR / Tether
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For this particular analysis on CEEK VR we are using the CEEKUSDT symbol on the KuCoin exchange.
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The idea is on the 1D time-frame where CEEK has been trading within a Channel Down pattern since July 17. The price is currently on a strong green candle that tested the top (Lower Highs trend-line) of the Channel Down but failed to break it. As long as it remains unbroken, the trend will continue to be bearish, targeting the 0.0940 June 13 Low.

A break above the 1D MA50 (blue trend-line) would be the bullish signal we'd be looking for, with target extensions all the upper Fibonacci levels. An early sign of a break-out could be the Bullish Cross on the MACD and the RSI breaking above its 1 month Resistance.

Note that the last time the price was on Lower Lows, while the RSI was on Higher Lows (i.e. bullish divergence) was on the June 13 Low, where the price straight after started the parabolic rise to 0.4000.




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