Bankex hit the bottom but looking upwards
My attention was caught by a photo of director of Bankex, Igor Khmel, who made a selfie where he is embracing the head of Binance Changpeng Zhao at Singapore conference. Should we expect a good news soon?
Let's go quickly through the indicators, to see where Bankex is now from the TA point of view.
Last month Bankex trading volume reduced. We see it moving within a flat channel between 0.00000947 and 0.00001131 BTC (~20%).
Since July 2018 the price is below the level of all EMA (20, 50, 200). This is definitely a downtrend.
MACD, despite being below the signal line, which also confirms the downward movement, shows a steady growth moving opposite the price movement down. This can be considered a positive divergence, which is also confirmed by Stochastic and RSI indicators. This suggests that, despite the price movement down, internal strengths are accumulating to move it up.
Bottom is the strongest support. The current price is clearly a steady level of support, despite a four-time breakthrough by candles shadows on 8, 12,16 and 22 September. Day candles close at the support level, and the market rejects a lower price.
The market profile shows the three nearest targets: 0.00001134, 0.00001161 and 0.00001314, that's where the main trades took place previously, and the probability that the price movement will be suspended at these levels is quite high.
A cursory analysis of the relation between Bankex price and Bankex news shows that the coin reacts to the positive news of the project. If in the near future we get a worthy news event (say listing at some good big exchange), the price can jump up to 40%.
Bankex full bags keep fingers crossed.
Let's go quickly through the indicators, to see where Bankex is now from the TA point of view.
Last month Bankex trading volume reduced. We see it moving within a flat channel between 0.00000947 and 0.00001131 BTC (~20%).
Since July 2018 the price is below the level of all EMA (20, 50, 200). This is definitely a downtrend.
MACD, despite being below the signal line, which also confirms the downward movement, shows a steady growth moving opposite the price movement down. This can be considered a positive divergence, which is also confirmed by Stochastic and RSI indicators. This suggests that, despite the price movement down, internal strengths are accumulating to move it up.
Bottom is the strongest support. The current price is clearly a steady level of support, despite a four-time breakthrough by candles shadows on 8, 12,16 and 22 September. Day candles close at the support level, and the market rejects a lower price.
The market profile shows the three nearest targets: 0.00001134, 0.00001161 and 0.00001314, that's where the main trades took place previously, and the probability that the price movement will be suspended at these levels is quite high.
A cursory analysis of the relation between Bankex price and Bankex news shows that the coin reacts to the positive news of the project. If in the near future we get a worthy news event (say listing at some good big exchange), the price can jump up to 40%.
Bankex full bags keep fingers crossed.
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