Hello, ladies and gentlemen. Today, we are going to take a deeper look at the DNX/USDT pair.
1)We know already that the Elliott Wave is the best tool for detecting market Cycles.We already was formed Elliot Wave 1 (Impulse Cycle) and Elliot Wave 2 (Correction Cycle), and next Cycles is more easy to guess if we already have two Cycles formed.
3)The price might Consolidate around the $0.95 zone for a few days,after that we could witness the formation of Impulse Wave 3.But i believe there is a low chance of Consolidation, my guess is that we will proceed directly to forming Impulse Wave 3 in the Cycle.
4)Impulse Wave 3 Cycle top will be $1.7 per-DNX, followed by Elliot Wave 4 (Correction Cycle).The bottom of Correction Cycle 4 is expected to be at $1.3 per DNX.
5)After we get Formed Elliot Wave 4 (Correction Cycle),followed by Elliot Wave 5 (Impulse Cycle).We know already Impulse Cycle 5 in Elliott Wave will must be more long Cycle than other ones.The top of Impulse Cycle 5 is expected to be at $2.5 per DNX.
6)We have also included the RSI in this analysis to gain a broader view of the chart with different indicators.The RSI is currently showing a key Support zone around the 40 level for several times, and price was successfully bounce from those levels to upside, so 40 level is important for hold, and we can expect price Reversal soon.RSI is now showing more strength at 40 level zone,and RSI is not a OverSold zone thats the important.
*Note - All Elliott Waves were measured by FIB levels,and this analysis last target is $2,5 per-DNX.
Hope this analysis will help a lot of peoples :)
1)We know already that the Elliott Wave is the best tool for detecting market Cycles.We already was formed Elliot Wave 1 (Impulse Cycle) and Elliot Wave 2 (Correction Cycle), and next Cycles is more easy to guess if we already have two Cycles formed.
3)The price might Consolidate around the $0.95 zone for a few days,after that we could witness the formation of Impulse Wave 3.But i believe there is a low chance of Consolidation, my guess is that we will proceed directly to forming Impulse Wave 3 in the Cycle.
4)Impulse Wave 3 Cycle top will be $1.7 per-DNX, followed by Elliot Wave 4 (Correction Cycle).The bottom of Correction Cycle 4 is expected to be at $1.3 per DNX.
5)After we get Formed Elliot Wave 4 (Correction Cycle),followed by Elliot Wave 5 (Impulse Cycle).We know already Impulse Cycle 5 in Elliott Wave will must be more long Cycle than other ones.The top of Impulse Cycle 5 is expected to be at $2.5 per DNX.
6)We have also included the RSI in this analysis to gain a broader view of the chart with different indicators.The RSI is currently showing a key Support zone around the 40 level for several times, and price was successfully bounce from those levels to upside, so 40 level is important for hold, and we can expect price Reversal soon.RSI is now showing more strength at 40 level zone,and RSI is not a OverSold zone thats the important.
*Note - All Elliott Waves were measured by FIB levels,and this analysis last target is $2,5 per-DNX.
Hope this analysis will help a lot of peoples :)
