💎Technical Analysis Summary💎
BINANCE: NAVBTC
-NavCoin breaking its weekly key level of support
-Though we still have 4 days left
-This candle is quite too Bearish
-This is a big warning sign if you have a long position
-Please consider reducing your exposure
-Or follow your stop loss plan
-The market for the Altcoins are not good this month
A big Thanks...
NAV/BTC
-NAV Coin broke the local resistance at around 1400 sat
-If a healthy pullback to flip old resistance to support
-That will give a strong bias of upside continuation will happen
-You may enter on a retest at 1400 sat range provided Bullish signs is present
-The upside target is up to 1800-2100 sat resistance zone
-Bearish side, candle close below 1400...
NAV/BTC
-bullish reaction on the 50 3D MA
-strong bounce also at 618 fib support
-there is a new upward trendline of support
-I expect the price to consolidate in the range of 1400s
-consolidation may take up to 30-40 days
-at the end of consolidation, we will have to reassess
-market bias is Bullish to slight bearish
$NAV finds itself in the accumulation phase.
On weekly chart RSI is showing bullish divergence.
Price is stuck in green box area which is historically has been a buy time.
There is a chance that price can go to the second green box area however it's unlikely.
Buy - green. Sell - red.
It's not a financial advice.
Trade carefully and good luck!
