On the 29th of June, Nuls reached the 29.7k satoshis support, where it has rejected 88.6% Fibonacci retracement level. Since then price has been rising consistently, while printing higher highs and higher lows, suggesting the validity of an uptrend.
What is interesting, is that NULS/BTC yesterday rejected the 3/1 Gann Fan trendline and 76.4% Fibonacci support, that is 34.4k satoshis level. At the same time the downtrend trendline has been broken.
However, the 44.5k satoshis resistance is still valid, and in order for Nuls to go higher, it mus be broken with confidence. If/when that occurs, price is likely to increase towards next Fibonacci resistance level, that is 56.4k satoshis.
On a downside, if resistance will hold Nuls is likely to consolidate and perhaps go down towards 30k satoshis support or even lower.
What is interesting, is that NULS/BTC yesterday rejected the 3/1 Gann Fan trendline and 76.4% Fibonacci support, that is 34.4k satoshis level. At the same time the downtrend trendline has been broken.
However, the 44.5k satoshis resistance is still valid, and in order for Nuls to go higher, it mus be broken with confidence. If/when that occurs, price is likely to increase towards next Fibonacci resistance level, that is 56.4k satoshis.
On a downside, if resistance will hold Nuls is likely to consolidate and perhaps go down towards 30k satoshis support or even lower.