. RequestNetwork/Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 38.
. There is a possibility of temporary retracement to suggested support zone (0.00016040 to 0.00013400). if so, traders can set orders...
REQ is looking for a floor. But it's like a dream with no bottom in sight. It just keeps falling and falling and falling.
Once it does hit a pivot it could very well be a meaningful bounce imho. It might be a while but it will bounce. Eventually. Maybe after it dips some more. Sorry bagholders. (I will be with you to enjoy the inevitable bounce up if that's any...
REQ is currently forming a falling wedge and is closing to long term trendline at around the 0.236 support level of a previous bullish swing back in December. Start of a wave 3 (blue arrow) of a potential broad wave III. (red arrow) may develop in case trendline holds.
With a wave 3 target of approx. 0.00074-0.00080 zone it provides a good RR as even with setting...
REQ is looking a lot like INS right now with the 50ma and 200ma touching (have not crossed yet, and either has INS). Perhaps, they will both keep moving sideways out of these descending triangles and then break up avoiding a cross completely. Personally, I would prefer to see a cross, brief consolidation, and then have some awesome entry points for nice gains. ...
Request, REQ is touching support vs ETH and vs BTC.
MACD is flat but RSI is turning upwards from almost oversold levels.
We can expect 25% to 50% gains in the next two weeks if ETH and BTC remain relatively stable.
This was definitely not an easy analysis. We first got a 5 wave impulse that topped out on the 6th Jan, followed by a bearish 5 wave impulse to the downside. As long as price doesn't break below 38.6k, REQ/ETH may have set itself up for the next 5 wave impulse. The chart trades surprisingly technically - you can identify many pivot points aligned to Fibonacci.
Note to self.
Comment: Major first wave finished and marked major second low around 0.0048 around 61.8% Fibonacci level from zero ground. Here comes the major third wave-"not the shortest wave". Within, the i of 3 marked at 0.00063 then the ii of 3 retraced back to 0.0004x which is 78.6% retracement-a big dip of doubt. Then iii > iv > v of the...