Long
NAVCoin Consolidation Ending
NAVCoin has found the bottom at $0.76 where it rejected the uptrend trendline and formed a double bottom. The following wave up resulted in the break above the 50 Moving average while reaching the $1.6 high.
NAV/USD has been consolidation for two weeks now and seem to find a strong support at the Moving Average. The next wave up could push price further up, towards 38.2% Fibonacci resistance at $2.33 area. Break and close above that resistance would open more upside potential and could send NAVCoin up to 76.4% Fibs, that is $4.
While the Moving Average is holding there is very high probability of the uptrend continuation. Although break and close below $1.1 would invalidate bullish outlook and the downtrend continuation might take place.
NAV/USD has been consolidation for two weeks now and seem to find a strong support at the Moving Average. The next wave up could push price further up, towards 38.2% Fibonacci resistance at $2.33 area. Break and close above that resistance would open more upside potential and could send NAVCoin up to 76.4% Fibs, that is $4.
While the Moving Average is holding there is very high probability of the uptrend continuation. Although break and close below $1.1 would invalidate bullish outlook and the downtrend continuation might take place.
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.
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.