Let's take a look at WazirX (WRX) technical analysis. We can see that the ascending trend chaneel was formed by the price. Now it is next to the it's lower band and clearly bounced off it.
In addition the price bounced off this week CPR level, which acts as a strong support. The RSI indicates the hidden bullish divergence which is an uptrend continuation sign.
The upper channel's band and the R1 weekly pivot level ($0.29) looks as the nice price target for the end of this week.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Trade closed: target reached
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The price reached the target. Now we can notice that it broke through the upward trend channel and is going to find support at it's upper band. The R1 pivot ($0.29) acts as a support because the price bounced off it multiple times. The next targets are R2 ($0.35) and R3 ($0.44).
Trade closed: target reached
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The price broke through the second target and is forming the another one ascending trend channel. If the price is able to find support at the R2 weekly pivot ($0.35) it can break through the upper line of this channel and reach the third target in couple of days. The another scenario is the reaching the lower band of this channel and bounce off it before the the growth continuation.
Wow, your analysis was on point! And for me it's not even too late to jump on the WRX train...it's getting the 0.6 pretty damn soon, glad i bought today, thank you sir!
DC92T
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We need an update please There are no "ideas" on this one for me to compare my chart with...