Breakout underway on TOMO/USDT weekly time frame
Updated
Here we see a clear breakout on the weekly time frame for TOMO/USDT. A close on this time frame above .62 would confirm the breakout. Additionally, the 3-day and daily charts both show a completed retest of the breakout line of resistance-turned-support.
The similarities between this chart and the ERD/USDT chart should be very carefully noted on the weekly and daily time frames.
A break below the .62 level would indicate a trend reversal. Otherwise, I would suggest buckling up for a wild ride as this pair continues to navigate price discovery mode in absence of prior resistance.
As always, keep your eye on BTC and the overall market sentiment, and as far as the Tomochain project's fundamentals are concerned, please do your own research.
Best of luck.
The similarities between this chart and the ERD/USDT chart should be very carefully noted on the weekly and daily time frames.
A break below the .62 level would indicate a trend reversal. Otherwise, I would suggest buckling up for a wild ride as this pair continues to navigate price discovery mode in absence of prior resistance.
As always, keep your eye on BTC and the overall market sentiment, and as far as the Tomochain project's fundamentals are concerned, please do your own research.
Best of luck.
Comment
Wild ride indeed. Probably not done yet, but a nice breather would be understandable here. Good luck to all.Trade closed: target reached
Congrats traders. This was a nice move. Still think it has a ways to go. Out for now.Disclaimer
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