Elastos long term trend breakout
Updated
Last weekly move lasted around 126days +/- and moved from the bottom weekly body @ $1.07 to topping @ $3.31 about a 209% move from weekly body to top wick/weekly price. Holding current double bottom @ $1.44 another similar weekly move will most likely put ELA retesting weekly high of June 2019 @ $4.60 as RSI is showing divergence to price with continued lower lows and higher highs.
It will be very hard for Elastos to power through $4.60 to close above it on the first try, look for a high likelihood of rejection and cooldown to retest the 21 EMA. As ELA increases in price the 21 EMA should be rising above previous consolidations of about $2 giving Elastos holders plenty of support from long term consolidation around $1-$2. If Elastos closes a weekly candle above $4.60 it should mark support from long term consolidation that started Nov of 2018. This would mark ~750 days of your chance to buy your founding ticket to the new and improved decentralized internet powered by Bitcoin and the Cyber Republic.
It will be very hard for Elastos to power through $4.60 to close above it on the first try, look for a high likelihood of rejection and cooldown to retest the 21 EMA. As ELA increases in price the 21 EMA should be rising above previous consolidations of about $2 giving Elastos holders plenty of support from long term consolidation around $1-$2. If Elastos closes a weekly candle above $4.60 it should mark support from long term consolidation that started Nov of 2018. This would mark ~750 days of your chance to buy your founding ticket to the new and improved decentralized internet powered by Bitcoin and the Cyber Republic.
Comment
From last post ELA took about 140days topping out a round $14.12. Refer back to first sentence of last post, we are looking very similar situation on 21 ema but hopefully we have confirmed support of $4.60 area. Close above last weekly high around $13+- should quickly take us to the $20 area for a continued uptrend. Thanks for the hard work Cyber Republic!
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