After a significant collapse in October, the price climbed out and now continues to rise steadily. In mid-November, it first touched the support level of 0.958, then moved along it for a while and finally managed to break through.
After the price broke through the level, it fixed on it and started a new strong growth, however, it did not come to the resistance line at 0.971 and stopped.
This line has existed on the chart since May 2020. And during these six months, each touch of the price of this line led to a trend reversal and a fall. There was only one false break. Therefore, I am not inclined to expect a breakout now.
Moreover, we already see that the price reversed after touching the line - which also indicates that the price does not have enough strength to break through it. I think that the maximum that the price will be able to do in the near future is a fall, possibly with minor corrections to the line.
Thus, the final target that I expect is the 0.958.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
After the price broke through the level, it fixed on it and started a new strong growth, however, it did not come to the resistance line at 0.971 and stopped.
This line has existed on the chart since May 2020. And during these six months, each touch of the price of this line led to a trend reversal and a fall. There was only one false break. Therefore, I am not inclined to expect a breakout now.
Moreover, we already see that the price reversed after touching the line - which also indicates that the price does not have enough strength to break through it. I think that the maximum that the price will be able to do in the near future is a fall, possibly with minor corrections to the line.
Thus, the final target that I expect is the 0.958.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.