IGNIS Pausing before possible breakout
IGNIS has been in a long slow decline since the coin's airdrop at the beginning of January 2018. There seem to only be 5 exchanges in the world that hosts this coin so there is not a lot of volume. Any price movement whether up or down will therefore be long and drawn out. For the last 5 days IGNIS have been consolidating which can be an indication of an impending move. This is confirmed by the Bollinger Band Squeeze and is an indication of periods of low volatility followed by periods of high volatility. The latter is needed for IGNIS to get a move on and if the break is through the upper resistance line AND the upper Bollinger Band then it could be good news for IGNIS HODL'ers. For now it is a waiting game.
Positive indicators that the breakout could be soon is the RSI that is moving above 50 and the MACD which is showing an upward trend and could soon move above the zero middle line.
As always do your homework and make your own investment decisions.
Positive indicators that the breakout could be soon is the RSI that is moving above 50 and the MACD which is showing an upward trend and could soon move above the zero middle line.
As always do your homework and make your own investment decisions.
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