Trade setup: Price got rejected at $1.80 resistance and is consolidating in a Falling Wedge pattern and it appears on the verge of breakout. This pattern usually results in a bullish breakout. If price breaks the upper trend line (ideally above $1.25 resistance), the price could revisit $1.80.
Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance: Nearest Support Zone is $1.00. The nearest Resistance Zone is $1.25 (previous support), then $1.80, and $2.75.
Patterns: Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher.
Trend: Uptrend on Short-Term basis and Downtrend on Medium- and Long-Term basis.
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance: Nearest Support Zone is $1.00. The nearest Resistance Zone is $1.25 (previous support), then $1.80, and $2.75.