NPXS/USDT Technical AnalysisThis is where we are at now. I have done a 4-hour chart of my prediction of where I can see NPXS going. As you can see, I predict a downscale to 0.003. I predict that it will bounce of 0.003 and begin to pump again if it falls below the support line. I am still optimistic that it will pump above the support line of 0.003 within the hour to start showing a trend of waves between the line of 0.003 and 0.0027; however, if BTC continues to consolidate between $54,000 and $56,000, we could be looking at a mini alt season. I do believe we will reach around 0.00445 to 0.005 before the token reduction.
Pundiusd
NPXS/USDT Technical AnalysisThis is where we are at now. I have done a 4-hour chart of my prediction of where I can see NPXS going. As you can see, I predict a downscale to 0.003. I predict that it will bounce of 0.003 and begin to pump again if it falls below the support line. I am still optimistic that it will pump above the support line of 0.003 within the hour to start showing a trend of waves between the line of 0.003 and 0.0027; however, if BTC continues to consolidate between $54,000 and $56,000, we could be looking at a mini alt season. I do believe we will reach around 0.00445 to 0.005 before the token reduction.
NPXSUSDT another bullish reversal pattern is formedOn daily time period chart, the price action of Pundi X (NPXS) is completing final leg of bullish BAT and soon it will be reached in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of BAT pattern should be as below:
Potential reversal or buying zone: $0.0001734 to $0.0001676
Sell or Fibonacci projection zone: $0.0001870 to $0.0002078
Stop Loss:
The potential reversal zone area that is up to $0.0001676 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 23.9% and as per the above-mentioned stop loss, the loss possibility is 3.4%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
NPXS | Warning!!! Death Cross Ahead Can Increase The Sell OffHey friends hope you are well and welcome the new update on Pundi X token.
The priceline is still moving in potential reversal zone of bullish Shark pattern, as this pattern I also showed in previous article.
The priceline broke out the resistance of the handle of the Cup & Handle pattern that I have already shown in my previous post as well. The priceline also tried to breakout the resistance of Cup but after being rejected by the resistance it is retraced at 0.786 Fibonacci level of Cup & Handle formation:
The priceline of NPXS has broken down the simple moving average 50 and 200 SMA as well. At this time the 50 SMA is moving down and likely to form a death cross with 200 simple moving average that can produce even more sell-off.
On daily chart after a waterfall crash the price action of Pundi X token has started its movement within a new down channel.
The priceline has also broken down EMA 10 and exponential moving average 21 as well.
On long term weekly chart the price action has been rejected by the resistance of Ichimoku bearish cloud. But so far the cloud is still giving bullish signal in future and if the price action will move here sideways then bearish cloud is also turning weaker. But in case more sell off the cloud can give bearish signals in future.
On the long term weekly chart the priceline is still moving above the potential reversal zone of bullish Butterfly pattern. I have been sharing this pattern several times in my previous posts as well. The sell targets as per Fibonacci sequence of bullish Butterfly pattern can be as below:
Sell between: $0.0003700 to $0.001010
Conclusion:
As the priceline of Pundi X is moving in down channel on daily chart and broke down the EMAs with the time period of 10 and 21 and turned completely a down trend. Therefore in order to change the trend from down to up on daily chart we need the closing above the EMAs and then a breakout from the resistance of down channel as well. These developments needed as soon as possible because the death cross between 50 and 200 SMAs on daily chart can lead to more powerful sell off that can lead to another waterfall crash.
NPXSUSDT is completing the bullish setup for breakoutOn daily chart the price action of NPXS has formed a falling wedge pattern and hitting 3rd time at the support of this wedge the formation of this chart pattern was started from 23rd Oct 2019 and every time the priceline consistantly getting bounced from the support of wedge so we can expect this time soon we will see bullish divergence and the greens will be appeared.
Like every time the pricline of Pundi X is hitting the lower bands of Bollinger bands with hitting this pattern's support.
Indicators And Oscillators:
The moving average convergence divergence (MACD) is strong bearish.
The RSI is already oversold with the value of 25.27 before this it was 22.29 on 18 Dec 2019 and if we have a look on stochastic then it can be clearly seen that the stochastic has given bull cross.
So we have some how miscellaneous situation here only rely on bull signals from Stochastic will be bit risky.
The Harmonic Move:
If we see the harmonic move then the price action of NPXS is forming a bullish Crab after intitial leg the A to B leg is retraced between 0.382 to 0.618 Fibonacci and B to C leg is projected between 0.382 to 0.886 Fibonacci projection of A to B leg after having all these legs driven as required for a perfect Crab pattern we can expected that the final C to D leg will be retraced between 1.27 upto 1.618 Fibonacce for the completion of perfect Crab pattern, sofar the final leg is retraced upto 1.208 fibonacci.
I have defiend the buying and sell targets as below for this bullish Crab pattern:
Buy between: $0.0001157 to $0.0001013
Sell between: $0.0001269 to $0.0001537
As per above targets if we enter in trade as per this bullish Crab pattern then we can have upto 51.5$ profitable move but if the price action will breakout the 0.786 Fibonacci level of sell target zone which is at $0.0001537 then the Pundi X can have a breakout from the falling wedge's resistance as well.
But here we should set our stop loss point the potential reversal zone of this Crab pattern.
Regards,
Atif Akbar (moon333)
