On the daily there seems to be a descending triangle forming (early stages).
We seem to have found support above 0.99-1.0 usd.
Should it break back through that, I personally see us revisiting the lower 90s where a reasonably solid support level has formed.
I think personally that we need to see some retrace for the momentum to get us past the resistance around 1.10 and with all the support of the MA's below us it seems that the break will eventually happen to the upside. Having said that there is not too much room for the bulls to move upward but then again this is crypto and anything is possible.
Breaking to the downside with sufficient pressure will see us revisiting the retracts as indicated.
We will just have to see.
For now I am waiting for a definite move in either direction to go in again. It's also Friday and many guys seem to want to get out over the weekends (although some of the bigger moves have also been on weekends.
So in summary it really is anyone's game at the moment so basically just wait and see for now.
This is by no means financial advice as I am not a trained professional and therefore any constructive criticism will be greatly appreciated.
We seem to have found support above 0.99-1.0 usd.
Should it break back through that, I personally see us revisiting the lower 90s where a reasonably solid support level has formed.
I think personally that we need to see some retrace for the momentum to get us past the resistance around 1.10 and with all the support of the MA's below us it seems that the break will eventually happen to the upside. Having said that there is not too much room for the bulls to move upward but then again this is crypto and anything is possible.
Breaking to the downside with sufficient pressure will see us revisiting the retracts as indicated.
We will just have to see.
For now I am waiting for a definite move in either direction to go in again. It's also Friday and many guys seem to want to get out over the weekends (although some of the bigger moves have also been on weekends.
So in summary it really is anyone's game at the moment so basically just wait and see for now.
This is by no means financial advice as I am not a trained professional and therefore any constructive criticism will be greatly appreciated.