Recently Ionomy found the support at $0.72, which has been rejected twice, forming a potential double bottom. During the past few days price has been rising slowly, however it has resulted in a break above the 50 Moving Average.
Considering the double bottom formation, MA breakout as well as the RSI downtrend trendline breakout, the trend could be on its way up....
Following the previous idea on Ionomy , it has reached the upside target at $3 and broke above it, reaching the $5 high. Then price corrected sharply down to the previous resistance at $2, which now is acting as a support. At the same time, ION/USD is testing the uptrend trendline and the 200 Moving Average.
This is indeed a very strong support for Ionomy which...
