PIXFI — Getting Ready For A Bigger Move!

Analyzing freshly launched tokens is always challenging due to the lack of historical data and missing patterns. As a result, analyses might not be perfectly accurate. On top of that, new tokens require analysis of lower timeframes, which naturally have a lower quality.

Nevertheless, when looking at PIXFI's 1H chart, we can derive a couple of assumptions:

1️⃣ 0.06 Is Our Support Zone: Since Friday, PIXFI has touched the level of 0.06 several times — always with the same result: A strong bounce. Therefore, this is a crucial level to watch. If PIXFI invalidates the support line, we may see more downside momentum.

2️⃣ Clear Downtrend: PIXFI trades in a clear downtrend. So far, all attempts to breakout have been rejected.

3️⃣ Downtrend meets Support: Here's the spicy part: The downtrend line will cross the 0.06 support line on Sunday at about 8 PM UTC. As a result, this could be a decisive moment. We will likely see a break of the downtrend, a bigger pump, or a break of the support, a bigger dump.

Fingers crossed!

ben_walther

I'm Ben. Crypto lover, trader, and coder.

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