In my previous forecast, we expected the price to rise from the support line to the resistance, and as we can see, the price really showed a strong growth over the last month. From the support line at 77.74, it moved up to the resistance zone of 80.96.
This is a strong zone formed by two lines. The first line is the youngest, appeared on the chart in 2019, the second is older, formed at the highs of the chart since 2014. After the first touch of the zone, the price bounced back and began to fall, but immediately corrected to the zone again.
I now expect a fall for two main reasons. First, the price will not be able to break through such a strong zone. Secondly, one should take into account the strong growth preceding this and the breakdown of the support line, after which the price has no resource left and there is no strong enough support for growth.
Therefore, the final target that I now expect is the 78.30 support line.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
This is a strong zone formed by two lines. The first line is the youngest, appeared on the chart in 2019, the second is older, formed at the highs of the chart since 2014. After the first touch of the zone, the price bounced back and began to fall, but immediately corrected to the zone again.
I now expect a fall for two main reasons. First, the price will not be able to break through such a strong zone. Secondly, one should take into account the strong growth preceding this and the breakdown of the support line, after which the price has no resource left and there is no strong enough support for growth.
Therefore, the final target that I now expect is the 78.30 support line.
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.