ARPA Chain - 3500% move to $2On the above weekly chart price action has corrected 80% since late 2021. A number of reasons now exist to be long, including:
1) Price action and RSI resistance breakouts.
2) Price action confirms support on past resistance.
3) Trend reversal. The first higher high / higher low has printed since 2021.
4) A pennant formation with confirmed breakout. A reliable chart pattern with predictable targets. The Flagpole (blue line) is used to measure the target ($2) from the breakout point. Very similar to the attached MATIC idea @ 1 cent.
Is it possible price action corrects further? Sure.
is it probable? No.
Ww
Type: trade
Risk: <6%
Timeframe for long: This month
Return: 3500%