Within the downward channel, we are now looking at a symmetrical triangle that could break either way.
UP:
Upcoming Spark drop may push us higher
We are above the Ichimoku
This will bring us up to the 0.5 retrace and around $0.625 and we will need some volume to surpass that.
Down(more likely imo):
Touched the top of the downward channel and reversed from that to below most of the moving averages and below the 0.5 retrace
MACD almost at the trigger line
Lower volumes
RSI close to the 40
It may bounce off the 0.236but more likely follow down to $0.51 ish where we have seen support before but most likely all the way down to the bottom of the channel around $0.49
The possibility is there for one more move up to the top of the triangle but a lot of pressure exists from the moving averages.
For my own education or miseducation ;) NOT financial or trading advice.
Open to constructive crtisicm.
UP:
Upcoming Spark drop may push us higher
We are above the Ichimoku
This will bring us up to the 0.5 retrace and around $0.625 and we will need some volume to surpass that.
Down(more likely imo):
Touched the top of the downward channel and reversed from that to below most of the moving averages and below the 0.5 retrace
MACD almost at the trigger line
Lower volumes
RSI close to the 40
It may bounce off the 0.236but more likely follow down to $0.51 ish where we have seen support before but most likely all the way down to the bottom of the channel around $0.49
The possibility is there for one more move up to the top of the triangle but a lot of pressure exists from the moving averages.
For my own education or miseducation ;) NOT financial or trading advice.
Open to constructive crtisicm.