Gaussian channel turning, this can be seen on many alt coins, an explosion may be around the corner, included possible pathing for golemusd however this is just a guess, (isn't that what TA is anyway?) xD I do expect once the Gaussian channel turns or just before it turns to see some large bullish momentum for many alt coins.
golem has formed a parallel channel on the 4H chart, it can be seen that an ascending scallop has formed which has led to a descending scallop, if this descending scallop holds true another bullish reversal may be in play. Looking for a bounce off green EMA line. My previous golem analysis price broke down at the immediate trendline acting as support.
Golem usd pair has formed an ascending scallop which has led to a pullback this usually results in bullish continuation. Currently sitting between two fib EMA levels. Very tight. A breakout is likely.
Golem has produced a descending scallop which results in a bullish reversal, these patterns have a high success rate in the current cryptocurrency market. This reversal led to the formation of an ascending scallop, which results in bullish continuation, which can already be seen. Interesting pattern!
Golem can be seen to have formed a inverted descending scallop, this may lead to a short term bullish reversal, the performance of inverted descending scallops is poor with a performance of 5/21 in a bear market.
The forecast above shows how price action may be possibly moving in the short-to-medium term. It may not be 100% accurate in terms of where the price or time falls but certainly gives an outlook as to where the market is headed.
Technical analysis: . Golem/Ethereum is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 34. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.00045600 to 0.00042600). if so, traders can set orders based on...
Technical analysis: . Golem/Ethereum is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 34. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.00045600 to 0.00042600). if so, traders can set orders based on...
Technical analysis: . GOLEM/ETHEREUM is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 53. . While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue. . The price downtrend in the daily chart is...
Technical analysis: . GOLEM/ETHEREUM is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 53. . The RSI downtrend and the price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased. Trading suggestion: ....
Technical analysis: . Golem/Ethereum is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 36. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.00065000 to 0.00059000). if so, traders can set orders based on...
Technical analysis: . GOLEM/ETHEREUM is in an uptrend and the continuation of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 69. . The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased. Trading suggestion: . There is...
Technical analysis: . GOLEM/ETHEREUM is in an uptrend and the continuation of the uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 69. . The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased. Trading suggestion: ....