Is XCAD going to rise or fall? $0.85 or $3.32?

Hello everyone!

I have been watching XCAD since the beginning of the reversal movement after the last 3 month price drop.

At the moment the asset is in the zone of semi-annual trading in the same area there is an important global Fibo level of 0.236 which is now a support level for the price as well as EMA 200.

And at the same time there is a global descending trend line and a local Fibo level of 0.618, which at the moment will serve as a resistance level until it is broken.

To continue the upward movement the asset needs to consolidate above $1.34.
After that the way up will be opened.

The first target is in the area of ~$1.77
The second target is around ~$2.12.
The third one is around ~$3.32.

If the asset fails to break the downtrend, we can expect a pullback to 0.382 - 0.236 Fibo.

What do you think?

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