OpenBlock

VIBE Token Reversal Potential

Long
BINANCE:VIBEUSD   None
VIBE has experienced a continuous downtrend since inception, but the current price action shows signs of the potential reversal of the trend. VIBE/USD has reached an all-time low on the 15th of March while hitting $0.115. The RSI oscillator formed a bullish divergence and price managed to break above the downtrend trendline.

Although the previous support at $0.35 is now acting as a resistance that has been rejected twise. In order for VIBE to start an uptrend, a daily close above that resistance is required.

On a downside, if the resistance will continue to be respected, more consolidation could take place sending price to 227.2% Fibonacci support at $0.1 psychological round number.
Trade closed: target reached