So let's move on with the . My thesis is, that we are witnessing a formation forming. The formation started right after the huge spike at the beginning of June with high . Since then the price was below it's moving average (20) and the was decresing constantly. Right now it found a nice bottom (red zone) which shows a strong support. A formation needs 7 to 65 weeks to complete, based on what the literature is telling us. So I took the current price development and projected it into the future. If I'm right then the formation will complete at the beginning of August, which then will be a timeframe of 8-9 weeks.
As you can see we have many indicators that hint to a possible formation. Also, if you are interested in this coin, take a look at the great fundamentals it has. For me it's a great longterm investment.
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