Truebit protocol battling resistance of 50SMA
Hi guys,
Thanks for stopping by. Here is a follow up on technical analysis of Truebit protocol published earlier.
Truebit has retraced down to the vicinity of .29$ and currently is caught up between the support of 100SMA and resistance of 50 SMA. A lot depends on the next move of ETH.
There is some bullish momentum in the making as can be seen on CMF and MACD histogram.
It is too early to assess the direction right now because of general indecisiveness in the overall market.
Traditional markets won’t start trading for several hours from now on and A LOT depends on the moves in SPY QQQ DJI as we all know that there has been a positive correlation between traditional and crypto markets in the past.
Technically, there is no buy neither sell signal at the moment. However, this is the only token that I personally find extremely valuable from fundamental standpoint. Check out their white paper and if it interests you. In my opinion this is one of a very few coins that is worth holding long term. And I mean LONG TERM :))
Please share your thoughts in the comment section below.
Have a great week and happy trades!
Thanks for stopping by. Here is a follow up on technical analysis of Truebit protocol published earlier.
Truebit has retraced down to the vicinity of .29$ and currently is caught up between the support of 100SMA and resistance of 50 SMA. A lot depends on the next move of ETH.
There is some bullish momentum in the making as can be seen on CMF and MACD histogram.
It is too early to assess the direction right now because of general indecisiveness in the overall market.
Traditional markets won’t start trading for several hours from now on and A LOT depends on the moves in SPY QQQ DJI as we all know that there has been a positive correlation between traditional and crypto markets in the past.
Technically, there is no buy neither sell signal at the moment. However, this is the only token that I personally find extremely valuable from fundamental standpoint. Check out their white paper and if it interests you. In my opinion this is one of a very few coins that is worth holding long term. And I mean LONG TERM :))
Please share your thoughts in the comment section below.
Have a great week and happy trades!
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