We have already past 4 weeks in corrections BINANCE:XECUSDT #eCash.
The first strong support is at range around $0.000039 - $0.000040.
But be careful, the wick could be down to $0.000036.
It would need several weeks to create double bottom on daily timeframe before it can go up to $0.000062.
When it happened, it will become long sideways before can continue...
The next time the price go beyond that yellow line, we can expect it to go even more higher. However, if the price go below the white trend lines, expect it to continue its downtrend.
For the past few weeks, eCASH had been under a serious bearish run!
And in the last few weeks ago I published bullish analysis that was only valid if and only if this bearish structure is invalidated and also I publish another long term overview on eCASH (See all the analysis attached below)!
But a few days ago, we've seen signs that indicate bulls are about to...
eCASH has been under pressure for some time now, still in the lower time frame structure is bearish (check lower timeframe analysis attached below)! But if bulls managed to take control at least on the lower timeframe then in the long run 0.0003 will be our first destination!
NB: Please check the lower timeframe analysis attached!
Yesterday I posted an analysis on eCASH with bullish bias but today I want to share the same analysis on the lower timeframe (H4)!
Currently, the market is downtrend with a series of LH's and LL's!
If the price closes above the previous LH then that might be a good indication that bulls are about to take over!
Again patient is key, let's see how this turns...
eCASH has been under pressure for a quite a long time now! But for now, the price is in a major zone! Any sign of reversal/candlestick in the lower timeframe might a good indication for bull run!
