A double bottom and a break above the downtrendline should be ingredients for a further rise in this crypto.
Ofcourse, at the minimum a higher high should be set for confirmation, i.e. a rise above 0.4782, the latest high. Some decent resistance could be seen after 0.5500/0.5700 zone. Eventually however, if the higher high is set a standard 38.2% or 50% Fibonacci correction levels is likely (0.6200 and 0.6800)
It looks like buying would not hurt here and risk/reward looks nice.
Ofcourse, at the minimum a higher high should be set for confirmation, i.e. a rise above 0.4782, the latest high. Some decent resistance could be seen after 0.5500/0.5700 zone. Eventually however, if the higher high is set a standard 38.2% or 50% Fibonacci correction levels is likely (0.6200 and 0.6800)
It looks like buying would not hurt here and risk/reward looks nice.
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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.