- POWRETH brokeout above the falling wedge's resistance, hit a swing high and retraced.
- Price is retesting the falling wedge resistance and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- Price action is printing the double bottom pattern.
- The double...
- POWRETH is bounded in the major falling wedge pattern.
- The downtrend swing was bounded in the minor falling wedge pattern.
- Price bounced off the major falling support and brokeout above minor falling wedge resistance.
- Possible retest of the major falling wedge resistance.
BUY ENTRY ⬆️
- Market price.
- Horizontal resistance level...
💎Technical Analysis Summary💎
-Power Ledger broke a key level of support around 760s sat
-The price is now pulling back to test previous support
-Will it shifts to a new resistance zone?
-There is a chance but until we see a sign of weakness
-Incase of Bearish direction, the next key level of support is at 600s sat
A big Thanks for donating...
Flatline on POWRBTC, this is evident across many alt coins and seem to be mirroring that of POWR for reference, price direction could be literally anywhere, no real good entry points, just an observation.
Power Coin broke bullish above down-line resistance. 1st Higher Low than a Higher High. After hitting the bottom 3x,
Bears loses its momentum fast and Bulls started gaining strength to form its 1st Higher Low inside the triangle pattern.
I'm looking for a healthy pullback in the support area for this swing trade.
Buy area: 580 Sats -...
Buy Price: Yellow Line
TP: Green Lines
Moon: White Line
Support: Blue Line
SL: Red Line
Invest Suggestion: 5-10 Percent
Profit Expectations: 5, 10 or >20 Percent
Just hold and watch. Sell while you get some profit. Good Luck!
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In the 1 day chart we can see a beautiful descending wedge pattern for POWR/ETH, with lower highs and lower lows.
RSI is way oversold.
It might find support at the previous lowest point (light-blue line)
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POWR token getting squeezed within trend line .. hoping some action soon. As always, tried to make my chart easy to understand. Use Fibonacci levels for support and resistance. Ladder your profit with Fibonacci levels. RSI moving upward and bounces from trend line. It might bounce down to trend or fib support level before moving up.
Please hit "LIKE" to support....
Long-term trend is still intact. Price testing then crossed the 20 EMA . There is confluence between the RSI , MACD price action, however there is divergence in relation to the long-term trendline which remains bullish . I am waiting to see if the price action tests or breaks support at the 0.786 (0.00085436) Fib retracement level and will act accordingly.
Rising wedge with divergence on the RSI. 150 MA has crossed over the 200 MA. Both 50 and 150 MAs are now on an upward slope. Price action has surpassed the 200 MA. Fib trend extension - Support held at 0.382 (0.00081491) POWR appears to have found support at 0.5 (0.00083297), whether this will hold is still yet to be seen, and has tested resistance at 0.618...
This structure is developing nicely. If the first wave up is an impulse than i'm expecting price to correct in 3 or 5 waves before getting the next impulse.
Every time it comes to the low im looking to accumulate more with a SL at zero.
Thanks for looking. Trade responsibly!