After the Bullish trend which started on the 2nd of November, it seems that we have a crossroads again, as long as we are about to register the 3rd consecutive day of decreasing and the price is now "testing" the 20 days Moving Average which has the same value as the Support Level 1 of 0.2435$
For the ones who will consider a higher level of risk, the basic reading of the RSI and the Stochastic (which are returning from their "overbought' positions") together with the trading volumes which are decreasing, can be enough for opening a Sell position looking for jumping the gun.
At this stage the risk comes from the possible "bounce back" of the price from the support level of 0.2435$ and it's "survival" between the 20 days Moving Average and the upper standard deviation of the Bollinger Bands, scenario in which the Sell position mentioned before will represent a loss.
But for the ones who prefer to wait for the downtrend to be confirmed, they can open the "Sell" position once (if) the price will go through the support level and also if the MACD's crossover will indicate the same direction.
For now, it seems we have only 2 possible scenarios :
* If the price will continue the decrease, we can consider 0.2230$ as a possible next "Stop".
* If the price will not break the support level, there are big chances to assist to the bullish trend continuation, situation in which we can consider 0.2770 as a target price in the following future.
For the ones who will consider a higher level of risk, the basic reading of the RSI and the Stochastic (which are returning from their "overbought' positions") together with the trading volumes which are decreasing, can be enough for opening a Sell position looking for jumping the gun.
At this stage the risk comes from the possible "bounce back" of the price from the support level of 0.2435$ and it's "survival" between the 20 days Moving Average and the upper standard deviation of the Bollinger Bands, scenario in which the Sell position mentioned before will represent a loss.
But for the ones who prefer to wait for the downtrend to be confirmed, they can open the "Sell" position once (if) the price will go through the support level and also if the MACD's crossover will indicate the same direction.
For now, it seems we have only 2 possible scenarios :
* If the price will continue the decrease, we can consider 0.2230$ as a possible next "Stop".
* If the price will not break the support level, there are big chances to assist to the bullish trend continuation, situation in which we can consider 0.2770 as a target price in the following future.
