Bulls Are In Control of XHV
Haven Protocol (XHV) is currently in an uptrend continuation pattern with a high chance of another leg up.
It has recently had a price surge, and is holding strong. On both the BTC and USD pairings, it has found support at the 0.382 and then increased to find support higher at the 0.236.
Also, it has found higher highs and higher lows in the process, which indicates to me a strong continuation pattern. Previous price increases in the BTC pair did not result in higher highs and higher lows, and ultimately failed. This is why I believe this time it has a good chance of being different.
BTC pair: It is still below a resistance line drawn peak-to-peak from historical highs. (zoom out to see the first high, it is not shown on this chart). This is currently its major resistance, but given recent bullish price action I believe it has a good chance to break through this resistance.
It is also continuing to find support at the 21EMA on the 12 hour chart, which indicates a continued uptrend.
USD pair: It has reached all time high USD values, and is not showing signs of slowing down. Many coins have also reached all time high USD values and are having more bearish arguments or decreasing in value. (not all coins, but most)
The sustained high price leads me to believe that the holders are not selling, and recent formations of higher highs and higher lows indicate that people are still buying. This would indicate a continued uptrend.
The candles that it has had on support at the 0.382 and 0.236 levels are bullish, with notable volume and indicating strong support.
One could try to breakout trade this, or wait for a breakout into retest if you are more cautious. However it appears to be sitting on a relatively strong support, so I feel comfortable buying here.
Things to look for to gauge strength of the trade as it plays out:
-Continued support at 0.236 level and making higher lows
-Price staying above 21EMA 12HR
-Successfully breaking through resistance on the BTC pair chart
Fundamentals:
This is a unique project with excellent fundamentals that I find very interesting. It utilizes a combination of technology from Monero and Chainlink to allow P2P swapping of real world assets, using oracle information from Chainlink, with the on-chain security and anonymity of Monero. Personally I will be looking to hold this medium to long term, and I believe this is about as good of an entry price as I can hope for right now.
It is also worth noting that the twitter account for this project was recently suspended in the last day or two for doing a giveaway (which is not really rational or justified). They are working to reinstate the account. What is interesting is that price did not react negatively at all, which is again a very good sign in my opinion.
Disclaimer: I am not a financial advisor and information written above is not investment advice. It for entertainment purposes only, trade at your own risk.
It has recently had a price surge, and is holding strong. On both the BTC and USD pairings, it has found support at the 0.382 and then increased to find support higher at the 0.236.
Also, it has found higher highs and higher lows in the process, which indicates to me a strong continuation pattern. Previous price increases in the BTC pair did not result in higher highs and higher lows, and ultimately failed. This is why I believe this time it has a good chance of being different.
BTC pair: It is still below a resistance line drawn peak-to-peak from historical highs. (zoom out to see the first high, it is not shown on this chart). This is currently its major resistance, but given recent bullish price action I believe it has a good chance to break through this resistance.
It is also continuing to find support at the 21EMA on the 12 hour chart, which indicates a continued uptrend.
USD pair: It has reached all time high USD values, and is not showing signs of slowing down. Many coins have also reached all time high USD values and are having more bearish arguments or decreasing in value. (not all coins, but most)
The sustained high price leads me to believe that the holders are not selling, and recent formations of higher highs and higher lows indicate that people are still buying. This would indicate a continued uptrend.
The candles that it has had on support at the 0.382 and 0.236 levels are bullish, with notable volume and indicating strong support.
One could try to breakout trade this, or wait for a breakout into retest if you are more cautious. However it appears to be sitting on a relatively strong support, so I feel comfortable buying here.
Things to look for to gauge strength of the trade as it plays out:
-Continued support at 0.236 level and making higher lows
-Price staying above 21EMA 12HR
-Successfully breaking through resistance on the BTC pair chart
Fundamentals:
This is a unique project with excellent fundamentals that I find very interesting. It utilizes a combination of technology from Monero and Chainlink to allow P2P swapping of real world assets, using oracle information from Chainlink, with the on-chain security and anonymity of Monero. Personally I will be looking to hold this medium to long term, and I believe this is about as good of an entry price as I can hope for right now.
It is also worth noting that the twitter account for this project was recently suspended in the last day or two for doing a giveaway (which is not really rational or justified). They are working to reinstate the account. What is interesting is that price did not react negatively at all, which is again a very good sign in my opinion.
Disclaimer: I am not a financial advisor and information written above is not investment advice. It for entertainment purposes only, trade at your own risk.
Disclaimer
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