TA by request. The parent company Quoine is aiming to unite all exchanges creating one encompassing “world book”, greater liquidity and less variation in prices. It's being compared to Ripple although I think it's intended use differs quite a bit. In a nutshell, QASH is to Quoine what XRP is to Ripple. The buzz is mainly based on the expectation that they will soon be rolling out a series of finished products/reaching significant milestones in the near future. Coins or Tokens like QASH are going to be very sensitive to the overall trend of the market, for obvious reasons.
Now for the TA, as there's limited history to work with, if Quione comes out with a stellar product that requires the use of their token or some other major event takes place, the chart may end up looking very different. That said, QASH has just made a double bottom , at the same time hitting the bottom of the triangle it's been stuck in since the beginning of the chart. Now, it will most likely be heading up to test the top of the triangle. From my experience, in situations like this, that test usually fails. That failure will bring with it the first critical test for QASH. If QASH hits the bottom of the triangle again after the test, then it will most likely create a bearish head and shoulders (with the assumption that the left shoulder is there), in that case, it would fall through the bottom of the triangle and then, well QASHed (first red circle). If it keeps away from the bottom of the triangle and heads back up, then it will complete a cup and handle, which should bring it somewhere near the 78.6 fib line. At this point, I would expect a correction and another critical test for QASH (blue circle), if this correction takes QASH to the upwards trending blue solid line (second red circle) it could potentially fall below it - and game over - alternatively, it could hit the blue trend line curve back up around and hit a new ATH. Back at the blue circle, if the correction were relatively minor, QASH would create a second cup and handle bringing it to a new ATH, although not as high as it might have reached were the price to hit the upwards trending blue solid line. In either case, the new ATH would be created when the price meets up with the solid red resistance line, which I would think could only be breached if there was a major development with the token, allowing it to shed the chains the bind it. Full disclosure, I bought some.
Now for the TA, as there's limited history to work with, if Quione comes out with a stellar product that requires the use of their token or some other major event takes place, the chart may end up looking very different. That said, QASH has just made a double bottom , at the same time hitting the bottom of the triangle it's been stuck in since the beginning of the chart. Now, it will most likely be heading up to test the top of the triangle. From my experience, in situations like this, that test usually fails. That failure will bring with it the first critical test for QASH. If QASH hits the bottom of the triangle again after the test, then it will most likely create a bearish head and shoulders (with the assumption that the left shoulder is there), in that case, it would fall through the bottom of the triangle and then, well QASHed (first red circle). If it keeps away from the bottom of the triangle and heads back up, then it will complete a cup and handle, which should bring it somewhere near the 78.6 fib line. At this point, I would expect a correction and another critical test for QASH (blue circle), if this correction takes QASH to the upwards trending blue solid line (second red circle) it could potentially fall below it - and game over - alternatively, it could hit the blue trend line curve back up around and hit a new ATH. Back at the blue circle, if the correction were relatively minor, QASH would create a second cup and handle bringing it to a new ATH, although not as high as it might have reached were the price to hit the upwards trending blue solid line. In either case, the new ATH would be created when the price meets up with the solid red resistance line, which I would think could only be breached if there was a major development with the token, allowing it to shed the chains the bind it. Full disclosure, I bought some.