COVALUSD: 1W Nearing end of falling wedgeAs above.
COVAL nearing end of falling wedge. MACD has continued bullish divergence and maybe will cross 0 line in late Feb or March 2023.
Watching for possible breakout after 0.0012 is breached. Would like to see concurrent increase in volume etc. to confirm.
If rejection off the top wedge trendline, then possible dip to 0.006 range may be possible.
Will follow.
Good luck traders.
COVALUSD
Possible COVAL Long OpportunityFollowing a decline of 91%, COVAL finally broke out of the downtrend with it's first higher high on August 14th. The retracement lasted until October 2nd where it formed a new higher high on the daily chart. After the RSI hit overbought territory, the price continued to retrace until it hit the .786 fib and bounced. Positive reversal signs can be seen on the 1HR, 1D and 3D chart. RSI is crossing 40 on the 1HR and 3D. PSAR has flipped positive on the daily chart.
Using fib extension for the wave 1 formed on the 3D chart, there shows a potential to hit .061 since it is the 1.68 fib level
Circuits of Value pullback to the upsideJust my opinion not financial advice. COVAL/USD showing a bullish divergence on the 4H, 1H charts, and oversold on the 1D chart. should be primed for a move to the upside. can take profits at previous Support/ Resistance. 1st Target 30% gains, 2nd target 75% gains
COVAL USDThis is the current sentiment at this particular timee/space. The Floor has been reached. Up Trend proceeding. The market has the support levels needed to move forward.
COVAL/USD TOKENThis is the current sentiment with COVAL @ this time/space juncture. It is on uptrend at moment. Looking forward to new highs retraced.
COVAL IdeaOff the previous setup the resistance line in Blue was confirmed n that turn around and failed to exit and continue the green trajectory. I created from the support bounce the next sets of pivot trend channels for the retrace up for a cup and handle condition that I think could be the run up for this accumulation phase. I will be looking at the candlesticks changing on higher highs on the divergances and the Reversal Lower highs within each Channel Targers. I will focus w RSI finding the 70 take profit range 30 Buy range and see where in the MACD are we crossing. These are my notes
None of this is financial advice. I hope you gain knowledge from these charts and grow your knowledge.
Stay Blessed
