Falling knife or buy the dip? Read this before trading FORTHUSD
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Quick glance: As of now, FORTH seems to in a downward trend on a narrowing channel.
Market in the last 24hrs
Massive profit booking quick pump was observed after a quick rally in the Ampleforth Governance Token or FORTH. If we look closely, and on a wider horizon, we can see the same cycle happen multiple times on FORTH.
Today’s Trend analysis
The channel pattern is in a downward trend. A breakout on either side should be awaited before jumping on a trade. As of now, it seems to be in a bearish momentum.
Price volatility remained high at approximately 10.5%, with the day's range between $15.741 — $19.528.
Price at the time of publishing: $17.221
FORTH's market cap: $124.85 million
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
Quick glance: As of now, FORTH seems to in a downward trend on a narrowing channel.
Market in the last 24hrs
Massive profit booking quick pump was observed after a quick rally in the Ampleforth Governance Token or FORTH. If we look closely, and on a wider horizon, we can see the same cycle happen multiple times on FORTH.
Today’s Trend analysis
The channel pattern is in a downward trend. A breakout on either side should be awaited before jumping on a trade. As of now, it seems to be in a bearish momentum.
Price volatility remained high at approximately 10.5%, with the day's range between $15.741 — $19.528.
Price at the time of publishing: $17.221
FORTH's market cap: $124.85 million
- Out of 11 Oscillator indicators, 9 are neutral,1 indicates to a bullish outlook, and 1 is bearish .
- Out of 15 Moving average indicators, 11 indicate a bullish outlook, 1 is 'NEUTRAL' and 3 are bearish .
- Indicator summary is giving a 'BUY' signal on FORTHUSD .
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
Comment:
Potential Flag & Pole formation
