Humaniq Upside ReversalYesterday Humaniq found the strong support at $0.123. Clearly, the 78.6% Fibonacci retracement level has been rejected, along with the 8/1 Gann Fan trendline. The bounce was very clean, suggesting the potential trend reversal to the upside.
Potentially, price could increase towards the upper trendline of the descending channel, that corresponds to the 78.6% Fibs as well as the 2/1 Gann Fan trendline. Therefore the HMQ/USD target is seen at $0.28, that is exactly 100% potential gain from the current price.
The downside risk at this point is very low, however daily break and close below $0.123 support could result in a decline towards $0.1 psychological level, but not necessary will invalidate bullish outlook.
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Comparative Chart of Ethereum (ETH) and Humaniq (HMQ) price in $Ethereum (ETH) compared to Humaniq (HMQ) coin price. Clearly visible how ETH outperformed HMQ in the last year. Maybe it is time for a reverse. Technically Humaniq looks quite good while on the other hand ETH seems very bearish right now. I am long both coins but believe in 2018 HMQ will outperform a lot. Plus lot of fundamental drivers on the back-end!
