full cycle elliott wave + bearish divergence period created uptrend support line indicating bullish days ahead. Can easily break the resistance if volume gets higher. Hope RSI goes to 80. resistance: 64 support: 56 entry zone: now
Here we can observe a Falling Wedge pattern in progress with XVG. Maybe we will witness a new All Time High within the next uptrend.
Oversold right at support line means a huge bounce if we hold, going to break immediate downtrend and oscillate back up through higher downtrend.
Since the elliott wave didnt performed uptrend, as showed us in the wave 5, the corrective wave ABC went downtrend, but didnt break the support, so its a good signal that can goes reversal and finally uptrend in next days.