Einsteinium Coin found strong support at $0.055 which has been rejected 2 times, after which a wave up followed breaking above the 200 Moving Average. The corrective wave followed and the support has been rejected for the 3rd time.
After the rejection of the support, a strong move up followed resulting in break above the descending channel and 127.2% Fibonacci retracement applied to the corrective wave. EMC2/USD went up from $0.055 up to the current price that is $0.12, resulting in a 140% growth in just 4 days.
The trend remains bullish as Einsteinium managed to break above the 227.2% Fibonacci as well as the upper trendline of the extended descending channel. The nearest upside target is 327.2%, located at $1.159. If that level will be rejected a correction is likely to follow, although break above should push Einsteinium a lot higher. Close below the $0.094 should invalidate this forecast and send EMC2 lower to test 200 Moving Average.
After the rejection of the support, a strong move up followed resulting in break above the descending channel and 127.2% Fibonacci retracement applied to the corrective wave. EMC2/USD went up from $0.055 up to the current price that is $0.12, resulting in a 140% growth in just 4 days.
The trend remains bullish as Einsteinium managed to break above the 227.2% Fibonacci as well as the upper trendline of the extended descending channel. The nearest upside target is 327.2%, located at $1.159. If that level will be rejected a correction is likely to follow, although break above should push Einsteinium a lot higher. Close below the $0.094 should invalidate this forecast and send EMC2 lower to test 200 Moving Average.
Comment:
First target reached
Comment:
Expecting more gains
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