DEXTF Elliott Wave analysis 17/Apr 2021
Following a turbulent two months DEXTF is looking ready to make a dramatic move to the upside.
The large correction that began on 20/Feb 2021 has now nearly reached the 78.6% retracement level - a very common Wave 2 correction length.
Wave 1 from inception on 9/Sep 2020 to the most recent ATH on 20/Feb 2021 shows the explosive growth potential of DEXTF.
The upcoming potential Wave 3 is suggestive of positive news coming out of the project or general alt-coin hyper bullishness.
DISCLAIMER:
Do not trade more than you can afford to lose
Past performance does not guarantee future results
The large correction that began on 20/Feb 2021 has now nearly reached the 78.6% retracement level - a very common Wave 2 correction length.
Wave 1 from inception on 9/Sep 2020 to the most recent ATH on 20/Feb 2021 shows the explosive growth potential of DEXTF.
The upcoming potential Wave 3 is suggestive of positive news coming out of the project or general alt-coin hyper bullishness.
DISCLAIMER:
Do not trade more than you can afford to lose
Past performance does not guarantee future results
Comment:
DEXTF/wETH pair fell below the 78.6% fib level, but today bounced off the level on the DEXTF/USD pair
Comment:
DEXTF/wETH showing signs of having started the 3rd wave up. Very low RSI levels on 25/Apr bottom followed by very strong impulse action into the 26th/Apr and hitting a resistance level on the 28th/Apr. I would expect the current retrace to continue just a bit longer before the next strong impulse move, possibly in the coming days.