Humaniq Upside Reversal
Yesterday Humaniq found the strong support at $0.123. Clearly, the 78.6% Fibonacci retracement level has been rejected, along with the 8/1 Gann Fan trendline. The bounce was very clean, suggesting the potential trend reversal to the upside.
Potentially, price could increase towards the upper trendline of the descending channel, that corresponds to the 78.6% Fibs as well as the 2/1 Gann Fan trendline. Therefore the HMQ/USD target is seen at $0.28, that is exactly 100% potential gain from the current price.
The downside risk at this point is very low, however daily break and close below $0.123 support could result in a decline towards $0.1 psychological level, but not necessary will invalidate bullish outlook.
Potentially, price could increase towards the upper trendline of the descending channel, that corresponds to the 78.6% Fibs as well as the 2/1 Gann Fan trendline. Therefore the HMQ/USD target is seen at $0.28, that is exactly 100% potential gain from the current price.
The downside risk at this point is very low, however daily break and close below $0.123 support could result in a decline towards $0.1 psychological level, but not necessary will invalidate bullish outlook.
📱 Telegram: t.me/Tradexcel
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.