💎Technical Analysis Summary💎
-AppCoins broke the weekly key support area
-The price made a new Swing Low around 273s sat
-This is Bearish technically in the midterm
-Because longer consolidation will occur
-Most likely scenario is to test old support
-If it turns out a new resistance zone
-APPC might travel downwards in the coming weeks
-APPC is starting to trade above the 200D MA again
-both 100MA & 200MA are acting as dynamic support
-potential new key support is 400 sats
-needs to close above 415 sats to confirm breakout
-upside target is 540 sats or higher
-stoploss below 100MA
APPC is still respecting this downward trend-line of support at 320 sats area. The 320 sats area is also where the swing Low from August trading activity. If APPC is unable to break the down-force resistance around 350 sats area,
I can see another downward push to test 320 sats Low before the breakout of this bullish falling wedge pattern.
when you have a 1 to 1 height on wave 1 for wave 5, 1.618 of wave 4 for 5, and 1.618 extention target of wave 1 for wave 5 all matching its hard to think otherwise. 50 to golden pocket retrace of this 5 wave move in the ABC target
I've been looking at AppCoins (APPC) for quite a while now, waiting for the right moment to share this Binance coin. By the time I took a second look today, the price was already taking off. The retrace period is over, is time to try for another run.
Let's see what the charts have to say first, we continue with the instructions to trade this coin.