NWCUSDT aiming at $0.50 on an impressive rally!
The NewsCrypto coin (NWCUSDT) followed our exact suggested strategy that we posted last week and following the 4H Golden Cross, it broke aggressively to the upside:
As a result, we now need to zoom out on the 1D time-frame and see what levels can act as Resistance/ Support on this impressive rally. But as always, let's break it down to the Technical and Fundamental parts.
** Technical Analysis **
As mentioned, today's post is on the 1D time-frame where we see NWCUSDT already above the 1D MA50 (blue) and the 1D MA100 (green trend-line). Both in price action and RSI terms, the pattern looks similar to the bottom sequence of July - August 2021. The legs (1 through 6 up till now) have been fairly symmetrical and right now we are approaching the Resistance made by the January 13 High with the RSI being at the exact level it was on August 24 2021. That was when NWC tested its proportionate Resistance on leg (6). What followed was a short-term pull-back to the 1D MA100, which formed a Bullish Cross with the MA50 and made the final push to leg (7) just below the 1.5 Fibonacci extension level (exactly on the Ichimoku cross to Bullish).
The difference is that now the 1D MA200 (orange trend-line) is not below as in 2021, but is coming from above as a Resistance and closing in on the 0.5000 level. Judging by its recent rejections (December 01, November 04 2021) and since it's been unbroken for more than 4 months, it would be sensible to use that level, $0.5000, as the exact short-term target.
** Fundamental Analysis **
Despite the technical hype, the NWC team keeps the project on strong fundamentals and having the core in the final stages of development, it is releasing new features on the platform little by little. One such feature that are big fans of, is the Premium Content one, which offers in-depth guides on all the practical skills a trader needs to successfully navigate the world of crypto. This includes guides that were prepared by NewsCrypto’s global team of analysts and educators, as well as those that were created by independent traders and well-known crypto veterans.
Such fundamentals are certainly strong and can create even more hype when the section will enable readers and other traders as well to share and monetize their knowledge on any topic that are passionate about.
** Conclusion **
As the NWC project stays on strong fundamentals that empowers its functionality and attracts outside interest, the price will continue to rise and even break into new patterns. Traders need to take advantage of this bullish momentum in the market and buy for at least a short-term $0.500 target as the project fundamentals that could be announced next time, may push the price much higher. Don't miss out!
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As a result, we now need to zoom out on the 1D time-frame and see what levels can act as Resistance/ Support on this impressive rally. But as always, let's break it down to the Technical and Fundamental parts.
** Technical Analysis **
As mentioned, today's post is on the 1D time-frame where we see NWCUSDT already above the 1D MA50 (blue) and the 1D MA100 (green trend-line). Both in price action and RSI terms, the pattern looks similar to the bottom sequence of July - August 2021. The legs (1 through 6 up till now) have been fairly symmetrical and right now we are approaching the Resistance made by the January 13 High with the RSI being at the exact level it was on August 24 2021. That was when NWC tested its proportionate Resistance on leg (6). What followed was a short-term pull-back to the 1D MA100, which formed a Bullish Cross with the MA50 and made the final push to leg (7) just below the 1.5 Fibonacci extension level (exactly on the Ichimoku cross to Bullish).
The difference is that now the 1D MA200 (orange trend-line) is not below as in 2021, but is coming from above as a Resistance and closing in on the 0.5000 level. Judging by its recent rejections (December 01, November 04 2021) and since it's been unbroken for more than 4 months, it would be sensible to use that level, $0.5000, as the exact short-term target.
** Fundamental Analysis **
Despite the technical hype, the NWC team keeps the project on strong fundamentals and having the core in the final stages of development, it is releasing new features on the platform little by little. One such feature that are big fans of, is the Premium Content one, which offers in-depth guides on all the practical skills a trader needs to successfully navigate the world of crypto. This includes guides that were prepared by NewsCrypto’s global team of analysts and educators, as well as those that were created by independent traders and well-known crypto veterans.
Such fundamentals are certainly strong and can create even more hype when the section will enable readers and other traders as well to share and monetize their knowledge on any topic that are passionate about.
** Conclusion **
As the NWC project stays on strong fundamentals that empowers its functionality and attracts outside interest, the price will continue to rise and even break into new patterns. Traders need to take advantage of this bullish momentum in the market and buy for at least a short-term $0.500 target as the project fundamentals that could be announced next time, may push the price much higher. Don't miss out!
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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