---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------
SNX/USDT: Bullish reversal on going?
Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets SNX suffered about negative global market situation
- SNX is expected to try to exit from the bearish channel or at least testing the upper part at 5,55
Market configuration
- Graphical Elements :
Graphical Resistance = 5,55 & 29
Graphical Support = 1,55 & 0,99
- Mathematical Indicators:
EMA ( Exp Moving averages) are being reintegrated = bullish
RSI indicator (below) is reintegrating 50% = Bullish
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (C) B is set at = 1,55
Fibonacci resistance of the wave in progress = 5,55
Fibonacci support of the wave (C) B(max extension) = 0,99
Fibonacci Bullish Target = 14,20
Conclusion
Preferred case => Regarding the mid-term element,SNX is expecting to do a bullish reversal from the area we are now. we are bullish above 1,55 towwards 5,55 the upper part of the bearish channel and we expected then a bullish exit towards 14,20
Alternative cases => Breaking 1,55 a significant drop will open the door towards 0,99
SNX/USDT: Bullish reversal on going?
Context
- The Global Crypto market leads by BTC and ETH is still evolving within a bearish market configuration. Like the others digital assets SNX suffered about negative global market situation
- SNX is expected to try to exit from the bearish channel or at least testing the upper part at 5,55
Market configuration
- Graphical Elements :
Graphical Resistance = 5,55 & 29
Graphical Support = 1,55 & 0,99
- Mathematical Indicators:
EMA ( Exp Moving averages) are being reintegrated = bullish
RSI indicator (below) is reintegrating 50% = Bullish
- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (C) B is set at = 1,55
Fibonacci resistance of the wave in progress = 5,55
Fibonacci support of the wave (C) B(max extension) = 0,99
Fibonacci Bullish Target = 14,20
Conclusion
Preferred case => Regarding the mid-term element,SNX is expecting to do a bullish reversal from the area we are now. we are bullish above 1,55 towwards 5,55 the upper part of the bearish channel and we expected then a bullish exit towards 14,20
Alternative cases => Breaking 1,55 a significant drop will open the door towards 0,99
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
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.
CIO & Head of market research (Automata - Vancelian)
vancelian.com/en
vancelian.com/en
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.