We are going to be looking at the chart/trend pattern, obv indicator.
chart pattern
Looking at the recent chart pattern we see the market has been ranging between 2.5$ to 1.5$ which a support and resistance is been drawn to let us know where the market is actually going when have a break out.
OBV indicator
Looking obv indicator we can see that that market have been going up from dec. 2020 to early this year but we also notice that the obv indicator as been ranging between the support and the resistance during this past weeks which correlate with the chart pattern analysis.
According to the obv indicator we noticed that anything the trend line touches the support it goes higher than the previous high I.e we are also having a higher high which also correlate with the chart pattern because we always have a Change is price each time this occur, but after the price reaches its all time high the market has been ranging but has just touch the resistance line in the obv indicator which shows that the market is about to pass it all time high.
Conclusion
Base on the findings above;
1. Webare in a long market(Buy) and the price is going to break it previous all time high any moment from now.
2. Base on the obv indicator, each time the trend line touches the support it goes higher than the previous highs which means we should be expecting the price to reach 3$ - 4$ very soon.
chart pattern
Looking at the recent chart pattern we see the market has been ranging between 2.5$ to 1.5$ which a support and resistance is been drawn to let us know where the market is actually going when have a break out.
OBV indicator
Looking obv indicator we can see that that market have been going up from dec. 2020 to early this year but we also notice that the obv indicator as been ranging between the support and the resistance during this past weeks which correlate with the chart pattern analysis.
According to the obv indicator we noticed that anything the trend line touches the support it goes higher than the previous high I.e we are also having a higher high which also correlate with the chart pattern because we always have a Change is price each time this occur, but after the price reaches its all time high the market has been ranging but has just touch the resistance line in the obv indicator which shows that the market is about to pass it all time high.
Conclusion
Base on the findings above;
1. Webare in a long market(Buy) and the price is going to break it previous all time high any moment from now.
2. Base on the obv indicator, each time the trend line touches the support it goes higher than the previous highs which means we should be expecting the price to reach 3$ - 4$ very soon.