VIBE chart shows huge resistance level at 5,000 area followed by sharp spikes. Previous bottoms (first two red circles) form a double bottom hitting the undervalued area of the coin. If price bounces off 5,000 area this will trigger a triple bottom and price should surge. Chart also shows an ABCD bullish chart pattern.
RSI stands at 40 which reads slightly oversold.
Targets are at conservative levels compared to previous spikes:
Target 1 6,000 - 20% Target 2 7,000 - 40%
Volume is a must as always and BTC 8.11% plays a role here as well.
This is not an investment advice, always do your own research.
Trade closed: target reached
⋅
Price came a hairline from target. 20% gains nonetheless!