CloackCoin Upside Correction
Recently CloackCoin has found the bottom at $1.4, where it has rejected the lower trendline of the descending channel . The following wave up resulted in a break above the 50 Moving Average and the upper trendline of the descending channel .
Current price action suggests the upcoming corrective move upwards, where price is expected to reach major resistance at $3.3, that previously acted as the support at least three times.
At the same time, major trend remains bearish and if current low is broken, CLOAK/USD might go down towards the key psychological support at $1, prior to correct up. But if the current low will hold, growth should be expected. If the $3.3 resistance is broken, the probability of a trend reversal should increase substantially.
Current price action suggests the upcoming corrective move upwards, where price is expected to reach major resistance at $3.3, that previously acted as the support at least three times.
At the same time, major trend remains bearish and if current low is broken, CLOAK/USD might go down towards the key psychological support at $1, prior to correct up. But if the current low will hold, growth should be expected. If the $3.3 resistance is broken, the probability of a trend reversal should increase substantially.
Top Crypto Telegram Channel: https://t.me/cryptopost
#1 Crypto Blog: http://cryptopost.com
Crypto Forum: http://cryptoforum.com
Alts vs BTC Trade Signals: http://cryptopost.com/signals-membership/
ETH Tip Jar: 0x79BB76B99114F9B33fd3E5477Eb05F2738D51
#1 Crypto Blog: http://cryptopost.com
Crypto Forum: http://cryptoforum.com
Alts vs BTC Trade Signals: http://cryptopost.com/signals-membership/
ETH Tip Jar: 0x79BB76B99114F9B33fd3E5477Eb05F2738D51