LOOKS RARE: Looking prepped for an explosive move up
With LOOKS being a rather new asset, the 4h chart seems to be the most high term timeframe that's sensibly usable, so that's what I'm basing this off of:
With LOOKS being rather low-cap, this seems to be a good opportunity for a long that can move up rather quickly.
The red line is my best guess for where the first significant resistance and then support level would be. It's not as obvious that it will indeed curve up again after finding support, but the immediately upcoming move is likely to be up.
- Momentum:
Multiple drives bullish divergence on wave trend and RSI
- Stochs have curved upward from lows and stand erect
Volatility:
- Volatility extremely low
Trend
- Multiple higher highs and higher lows
With LOOKS being rather low-cap, this seems to be a good opportunity for a long that can move up rather quickly.
The red line is my best guess for where the first significant resistance and then support level would be. It's not as obvious that it will indeed curve up again after finding support, but the immediately upcoming move is likely to be up.