Hello, dear TradingView members. This idea is a WAVES analysis.
WAVES has broken the descending channel with an excellent 35% pump and ended the downtrend for now. The upper band of the descending channel can later be used as support and confirmation. There are two potential bull targets on the chart in case of the market pumps even more. And also, there are three support levels on the chart, which are static and powerful to hold the price up.
Scenario one: The price will increase and get more buy volumes to reach the potential target levels.
Scenario two: The price will be rejected by the resistance level or one potential target number one and land on the support level shown in the chart.
RSI is showing overbought signals, so be careful with your long positions.
The Speedometer indicator shows Neutral volumes on the market for SNX on a 1D interval.
Now have in mind: ANY news about this coin can cause a big pump or dump at this moment!
Let me know if you guys have any questions; I will be more than happy to help.
@RLinda, Glad you liked it, thanks for your support
Solldy
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Very high-quality description, my friend. I just got a high from reading it 😌 I think that the idea will work pretty quickly, with the current volatility it has every chance to do so.
ShawnMCR
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@Solldy, Love your supportive comments, thank you for your energy buddy.
SwallowPremium
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Good description of the idea and technical analysis of the chart, thanks!