Spendcoin (SPND) Prepares For Another Round... Full Analysis
July was the month Spendcoin (SPNDBTC) finally woke up, printing a massive 1600% daily candle.
After such strong growth, a correction is not expected but actually a must.
Prices went on to correct and after some consolidation and hitting EMA100 as support, we are seeing this pair moving back above EMA50 and EMA10.
Another bullish jump can take place.
NOTE: As long as prices remain trading above EMA10/50, 0.00000029/0.00000030, we stay open to this bullish jump (strongly bullish).
The MACD and RSI both support this move.
Conditions for change
If prices drop, we remain bullish above MA200 or 0.00000019.
If prices drop and close below MA200, the bears take control of this pair/chart, meaning, we can see lower prices.
Namaste.
After such strong growth, a correction is not expected but actually a must.
Prices went on to correct and after some consolidation and hitting EMA100 as support, we are seeing this pair moving back above EMA50 and EMA10.
Another bullish jump can take place.
NOTE: As long as prices remain trading above EMA10/50, 0.00000029/0.00000030, we stay open to this bullish jump (strongly bullish).
The MACD and RSI both support this move.
Conditions for change
If prices drop, we remain bullish above MA200 or 0.00000019.
If prices drop and close below MA200, the bears take control of this pair/chart, meaning, we can see lower prices.
Namaste.
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