Hi friends hope you are well and welcome to the new update on PUNDIX.
Long-term resistance and support:
Since the month of April 2021 the Pundi X has found a very strong down trendline resistance and the priceline has been rejected by this resistance for several times. Right now it is again likely to be rejected by this down trendline. There is also a very strong price-level support at 83 cents. Pundi x has tested this support 1st time in June 2021 and so far it is not able to break it down. The movement of the price action is getting squeezed therefore, very soon a break from this support or resistance is possible if the price line breaks out the resistance then there will be a key resistance at $2, and in case of breaking out the key resistance, it can move back to $10 very soon.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Long-term resistance and support:
Since the month of April 2021 the Pundi X has found a very strong down trendline resistance and the priceline has been rejected by this resistance for several times. Right now it is again likely to be rejected by this down trendline. There is also a very strong price-level support at 83 cents. Pundi x has tested this support 1st time in June 2021 and so far it is not able to break it down. The movement of the price action is getting squeezed therefore, very soon a break from this support or resistance is possible if the price line breaks out the resistance then there will be a key resistance at $2, and in case of breaking out the key resistance, it can move back to $10 very soon.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade