The Fibonacci on the graph goes from our recent high price to one of our lowest points, the 1.6% area shows a price of $250, which is only approximately 40% of what we currently are at. If we break through the previous price point we may see an even larger run-up and that is what may take us to the $250 in the medium-term. We are likely to see some strong resistance at the $200 price range.
- MACD - Not necessary for this analysis.
- RSI - Not necessary for this analysis.
- Orange - Resistance.
- Pink - Support.
As always trade the lines accordingly.