STORM/USD - Testing New Resistance- Watch for break.
Storm has seen a string of Daily Green candles and it is now testing an important break level.
I've been trading on the daily candles but here's some 4hrs to try and better explain where we might be heading.
This one is on my watch list due to the inbound re-branding and launch of STORMX.
This launch is promised to coincide with ability to Stake tokens.
When STORMX launches you will need to swap these tokens 1/1 but the platform will allow about 4 months for this process so there will be no rush.
(Website and exchanges should have information on how this will transpire but sounds like a simple process)
There is a resistance line just above this break line so cautious entry advised.
Ideally we will see them both broken within a single daily candle.
Keep an eye on it and be very particular about entry. if getting involved- 20% swings daily is not uncommon here and a rejection from this level is plausible.
As always, not financial advice, just my own TA and thoughts.
Bingaz
I've been trading on the daily candles but here's some 4hrs to try and better explain where we might be heading.
This one is on my watch list due to the inbound re-branding and launch of STORMX.
This launch is promised to coincide with ability to Stake tokens.
When STORMX launches you will need to swap these tokens 1/1 but the platform will allow about 4 months for this process so there will be no rush.
(Website and exchanges should have information on how this will transpire but sounds like a simple process)
There is a resistance line just above this break line so cautious entry advised.
Ideally we will see them both broken within a single daily candle.
Keep an eye on it and be very particular about entry. if getting involved- 20% swings daily is not uncommon here and a rejection from this level is plausible.
As always, not financial advice, just my own TA and thoughts.
Bingaz
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