$SYS - SYSCOIN approaches key resistance
SSYS has had it all from a shakeout of buyers shown through the blue circled area to a strong breakout on heavy 3D volume, a retest and then a final pickup to retest resistance again.
Key levels to breakout have been highlighted through the red zones but for starters, buyers should focus on breaching through 0.70 which as of now is the most important level.
The 30MA has been a key filter for SYS as shown by how well it has acted as support and resistance through the past 4 -5 months. After an extended decline we have finally seen the 30MA start to flatten out and support a move higher on SYS.
Breaking through 0.70 would mostly likely bring in the momentum for SYS to test $0.90 before we see another base start forming.
Generally a conservative price target is the pattern high at around $1.33.
A further look into SYS/BTC monthly timeframe would give a more broader view into the potential SSYS has in order to move towards $2 - $3 over the short term.
Key levels to breakout have been highlighted through the red zones but for starters, buyers should focus on breaching through 0.70 which as of now is the most important level.
The 30MA has been a key filter for SYS as shown by how well it has acted as support and resistance through the past 4 -5 months. After an extended decline we have finally seen the 30MA start to flatten out and support a move higher on SYS.
Breaking through 0.70 would mostly likely bring in the momentum for SYS to test $0.90 before we see another base start forming.
Generally a conservative price target is the pattern high at around $1.33.
A further look into SYS/BTC monthly timeframe would give a more broader view into the potential SSYS has in order to move towards $2 - $3 over the short term.
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