NWCUSDT hit a major Resistance confluence but remains supported.
The NewsCrypto Coin has eventually found Support at the bottom of the Channel Down pattern I posted 2 weeks ago, and registered the first major rebound attempt since late July:
This time I will focus down on the 4H time-frame for a shorter-term evaluation along with the major fundamentals/ news of the week.
** Technical Analysis **
As the chart shows, NWCUSDT has been trading on a short-term Channel Up ever since the February 03 Higher Low and yesterday it even broke above the 4H MA200 (orange trend-line) which has been intact as a Resistance since December 01 2021. It has so far though failed to extend this momentum and break above the long-term Resistance of the 1D MA50 (red trend-line). In fact yesterday's rejection came on a major Resistance confluence as besides the 1D MA50, it is where the 0.5 Fibonacci retracement level (on log scale) is (counting as 1.0 the December 24 High) as well as the 1.5 Fibonacci Channel extension. As a result, until this Resistance Zone breaks, NWC may remain sideways, as at the same time it is supported by the 4H MA50 (blue trend-line) since February 04, which is the short-term Support level. If the price breaks above the 1D MA50, we can expect a strong gap fill to 0.5000 by the end of the month.
** Fundamental Analysis **
At the same time of this critical break-out attempt, NWC has been on strong fundamentals. A big NewsCrypto App update is just around the corner which will include among others:
- AI sentiment
- Liquidations
- Funding Rates
- Compare tool
- Upgraded Smart Alerts
- Gainers/Losers
- Synced account with web platform
- Improved UX
On top of that, the profile section upgrade on web platform is live, where you can: ✅ Edit your profile section ✅ Add followers and following ✅ See user's trading predictions.
Last but not least, the Mercury Trade, a platform powered by NewsCrypto, is expected to go live in Q1 2022, where users can copy the world’s top traders with one tap – or become a trading star themselves.
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
This time I will focus down on the 4H time-frame for a shorter-term evaluation along with the major fundamentals/ news of the week.
** Technical Analysis **
As the chart shows, NWCUSDT has been trading on a short-term Channel Up ever since the February 03 Higher Low and yesterday it even broke above the 4H MA200 (orange trend-line) which has been intact as a Resistance since December 01 2021. It has so far though failed to extend this momentum and break above the long-term Resistance of the 1D MA50 (red trend-line). In fact yesterday's rejection came on a major Resistance confluence as besides the 1D MA50, it is where the 0.5 Fibonacci retracement level (on log scale) is (counting as 1.0 the December 24 High) as well as the 1.5 Fibonacci Channel extension. As a result, until this Resistance Zone breaks, NWC may remain sideways, as at the same time it is supported by the 4H MA50 (blue trend-line) since February 04, which is the short-term Support level. If the price breaks above the 1D MA50, we can expect a strong gap fill to 0.5000 by the end of the month.
** Fundamental Analysis **
At the same time of this critical break-out attempt, NWC has been on strong fundamentals. A big NewsCrypto App update is just around the corner which will include among others:
- AI sentiment
- Liquidations
- Funding Rates
- Compare tool
- Upgraded Smart Alerts
- Gainers/Losers
- Synced account with web platform
- Improved UX
On top of that, the profile section upgrade on web platform is live, where you can: ✅ Edit your profile section ✅ Add followers and following ✅ See user's trading predictions.
Last but not least, the Mercury Trade, a platform powered by NewsCrypto, is expected to go live in Q1 2022, where users can copy the world’s top traders with one tap – or become a trading star themselves.
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.