I've been asked to TA this coin (I've never checked it before) so here we go.
This is a pretty nice asymmetrical triangle but the first resistance is also a very strong one as it coincide with EMA 200, ichimoku cloud and the volume profile's control line of the last 4 days. This despite the volume itself of the transactions at that price is pretty low. I wouldn't know if all those indicators count more than volume itself, I guess we'll figure it out.
The second resistance I think it's the weaker, the description is in the chart. Last resistance is instead correlated with the price at which there was the most recent highest volume but should price get there I think a healthy retracement would be due.
Concerning the question: is it gonna break out? I think it will, however price is already +13% since the support so I'd probably enter after watching how it behaves after the possible break out.
This is a pretty nice asymmetrical triangle but the first resistance is also a very strong one as it coincide with EMA 200, ichimoku cloud and the volume profile's control line of the last 4 days. This despite the volume itself of the transactions at that price is pretty low. I wouldn't know if all those indicators count more than volume itself, I guess we'll figure it out.
The second resistance I think it's the weaker, the description is in the chart. Last resistance is instead correlated with the price at which there was the most recent highest volume but should price get there I think a healthy retracement would be due.
Concerning the question: is it gonna break out? I think it will, however price is already +13% since the support so I'd probably enter after watching how it behaves after the possible break out.
Comment:
nice break out here!
Comment:
around 65% profit on this so far. I was asked to TA this one so merit goes to DanCrypt for finding this one.