While this doesn't necessarily indicate a true bottom (seeing as it was only tested once), overall market sentiment is bullish and the volume on this coin is returning. If we continue to use the same resistances that I charted in April it would be relatively safe to assume a strong candle closing above 740 could lead us rapidly into 1000. Both new and old players are still weary of this market, but will take any small wins they can get. Watch out for swing traders hitting this coin and make sure to create both an entrance AND exit plan before making a move. The worst thing you can do is be reactive right now.
Comment:
Accumulation phase... candle closings are important here. Swing traders beware!
Comment:
Candle closing below 500 could mean a retest of 440-460 area as we have yet to establish a bottom