FUN/BTC: Conflicting signs, in no-trade zone
Inching on to the end of its descending triangle, FUN now finds itself in an uncertain position. On one hand, the MACD shows a slow upwards trend, but the histogram remains very thin. The RSI is approaching the bottom Bollinger Band, indicating it may be time for a bounce in price. Yet, on the other hand, the price seems to be crossing previous support to the lowest support level, with the 20 and 50 EMA providing consistent resistance. Volume is inconclusive.
While the price certainly won't hover long around the upper support/resistance level, it remains to be seen whether that'll be by curving upwards in a delayed bounce or by continuing its journey to the lower level. It's recommended to hold off on trading for now until the chart makes itself clear. Should an upwards movement be in order, right above the support would be an appropriate area to buy.
While the price certainly won't hover long around the upper support/resistance level, it remains to be seen whether that'll be by curving upwards in a delayed bounce or by continuing its journey to the lower level. It's recommended to hold off on trading for now until the chart makes itself clear. Should an upwards movement be in order, right above the support would be an appropriate area to buy.
Comment:
The market finds itself undecided, constantly hovering around the support with no definitive moves. Stay tuned for further updates!
Comment:
And the bulls are back! Now we wait for it to hit the trendline before a breakout can be confirmed.