Short
ANC/USD - Approaching the first line of defense @ $2.2! 😲
After quite the rally, I see ANC has completed a 5 impulse-wave structure and most likely we can expect a correction in the nearby future.
Maybe an ABC.
Either way, the first line of defense is found at $2.2 which also coincides with the uptrend trendline.
If it holds then ANC stands to test the $3 resistance, but looking at the current market, I have my doubts ANC can push higher in such a market.
ANC could very well break below the local support and re-test the key levels just under $2 or even lower.
A good run for ANC, but now is time to find support.
Bias is bearish in the short term. Stay safe.
Like and follow if you liked my idea!
Maybe an ABC.
Either way, the first line of defense is found at $2.2 which also coincides with the uptrend trendline.
If it holds then ANC stands to test the $3 resistance, but looking at the current market, I have my doubts ANC can push higher in such a market.
ANC could very well break below the local support and re-test the key levels just under $2 or even lower.
A good run for ANC, but now is time to find support.
Bias is bearish in the short term. Stay safe.
Like and follow if you liked my idea!
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📣 Find more Alpha by joining Your Crypto Community 🔰 LINKs BELOW 🔰
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
🔹 Over 5,000 members!
🔹 Real trades & wins explained
🔹 Trading ideas, crypto trends & alpha
Likes and follows appreciated! 🚀
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.