WEMIXUSDT Good rebound but not a break-out yet. Trade it safely.

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For this particular analysis on the Wemix token we are using the WEMIXUSDT symbol on the OKX exchange.
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The idea is on the 1D time-frame where WEMIX has reached even +30% intraday but is pulling-back (so far) after coming too close to the 1D MA50 (blue trend-line). This is the trend-line where it got rejected heavily on October 27 and made a new Lower Low on the Channel Down pattern that it has been trading in since July 27.

In our opinion, today's rise isn't enough to make us buy Wemix. We would ideally like to see it break above the 1D MA100 (green trend-line), where the price was last rejected on October 18 and which has been holding as a Resistance since August 11.

A break above the 1D MA100, is a bullish signal targeting the 1D MA200 (orange trend-line). Closing above that, can target the upper Fibonacci levels one by one. Until a 1D MA100 break-out takes place though, Selling targeting the bottom (Lower Lows trend-line) of the Channel Down is the go-to trade.


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