I will watch this ticker for the following week, looks like we are about to observe some movement as the price reached the support at 1.00. The downtrend has little strength as indicated by the volume, which is why I am expecting the price to rise more than to fall. I will observe the potential signals highlighted in order to know if I should pull out or stay long (I go in around 0.89). There is another support at 0.87, which makes me think that the price could be oscillating in the 0.87-1.00 zone for a while.
Trade well!
- Previous resistance around 1.00 apparently became current support zone
- MACD could possibly show a trend reversal signal soon (crossover)
- Stochastic shows oversold signal at support
Trade well!
Comment:
Price touched the lower support zone around 0.87, which was one possible scenario. Now the price can either recover at that support or dip further, which seems to currently depend on the overall market trend.