TenX Pay Token Could Be Worth x2 Soon

BITTREX:PAYUSD   TenX Pay Token / US Dollar (calculated by TradingView)
After finding the bottom at $0.77, TenX Pay Token went up, breaking above the descending channel and the 50 Moving Average. This suggests the continuation of the bullish momentum that could result in PAY/USD rising towards $3, that would potentially double it's current value.

Although there is strong resistance at $1.64, that has to be surpassed first. This is 61.8% Fibonacci retracement that corresponds to the downtrend trendline . Break and close above this resistance should push price higher, up to $3, that is much stronger technical as well as psychological resistance level .

It is unlikely that from this point there will be any major move down and the rise is expected to be smooth. Nevertheless close below $0.77 should invalidate short term bullish outlook and extend the consolidation.
Comment: First resistance reached
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