HiTech
Long

EnergyCoin Spikes Could Continue

BITTREX:ENRGUSD   EnergyCoin / Dollar
During the past five months, EnergyCoing has been extremely volatile producing huge price spikes. But overall it has been widely trading between $0.085 support and $0.2 resistance.

Throughout all the range trading it has been moving upwards, while rejecting the uptrend trendline . On the 1st of December, ENRG/USD broke above the 200 Moving Average, after it has bounced off the $0.085 support level once again. Yesterday the 200 MA was rejected signaling that EnergyCoin is, in fact, ready to move higher, perhaps producing another huge spike up yet again.

The strong resistance and the upside target is seen at $0.25, this is the price that has been previously rejected and acted as a resistance on the 27th of August. It also corresponds to the 327.2% Fibonacci retracement level applied to the most recent corrective ave down after breaking the 200 Moving Average. Th             only way Energy could go lower is if the price will break and close below the $0.085 support.
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