I see here an interesting spot to invest. The price comes to the strong resistance lvl: 10$.
It's key lvl by support lines also it's a strong psychological lvl.
So this is my argument 🧐:
📃 Oversold. -83% price dump from the last local High.
📃 10$ strong support zone.
🚀 Huge volume on 12$ - possible investors "accumulation zone".
🚀 Price "Plato" for the last 4 weeks. Looks like accumulation for the pump.
📃 Under 50 MA on W chart.
🚀 Risk/profit ratio ~ 4
So what I am expecting here: it's moving to 50 MA zone on W chart. It's ~16$ for now or 40% gain. SL you can put under 10$ support line.
It's key lvl by support lines also it's a strong psychological lvl.
So this is my argument 🧐:
📃 Oversold. -83% price dump from the last local High.
📃 10$ strong support zone.
🚀 Huge volume on 12$ - possible investors "accumulation zone".
🚀 Price "Plato" for the last 4 weeks. Looks like accumulation for the pump.
📃 Under 50 MA on W chart.
🚀 Risk/profit ratio ~ 4
So what I am expecting here: it's moving to 50 MA zone on W chart. It's ~16$ for now or 40% gain. SL you can put under 10$ support line.
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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.