Hello, this is D.VA.
Today's recommended coin is SNT (Status Network Token)
1. A giant falling wedge pattern's resistance is likely to break up
2. Strong historical support based on daily chart
3. Bearish Bat Pattern formation (Harmonic Pattern)
4. Volume Splike after long-term accumulation
5. 10-month RSI Resistance is broken for the first time and retraced ...
On the 29th of May Status has found the support at 88.6% Fibonacci retracement, that is $0.087 level. The following wave up resulted in a break above two descending channels and reaching the high at $0.1.
The corrective wave down followed and SNT/USD yet again fond the support, this time at the 76.4% Fibs, that is $0.091. The strong support area has been formed ...
STATUS NETWORK TOKEN/DOLLAR is in a down trend and Beginning of up trend is expected.
The price is below the 21-Day WEMA which acts as a dynamic resistance.
The RSI is at 33.
*The price is in a down trend, but we forecast the uptrend would begin.
*There is possibility of temporary retracement to suggested support zone ...
After the last fall of BTC, BITFINEX:SNTUSD has resisted a very strong price.
According with fibonacci points, we have an excellent buy entry
This is my trade recommendation:
-Buy below 0,18$
-On short term, BITFINEX:SNTUSD can reach 0,25$. This is our first target.
-After that, take profits and buy again if the price stays above our first goal.
I will update ...
SNT is still retracing. and it wil go lower! because BTC will go down the coming days. This gives us even a better buying opportunity than the 88% Retracement level. The Fib extension tool indicates 650% potential for SNT
Ride the waves to the moon with me !