#AUCTION Technical Analysis in a Weekly TimeframeHello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:
AUCTION is currently in a downtrend but is expected to soon break above the triangle and the 21 EMA resistance. This breakout is crucial, and once confirmed, we could see a rally up to $100.
Last October, when AUCTION broke above the resistance trendline, it made a parabolic move, gaining 6x-7x within a couple of months. A similar move can be expected once the breakout is confirmed.
In the event of a rejection, the support line at $10.85 is likely to hold the price.
Key levels:
- Crucial Point: A breakout above the triangle and the 21 EMA.
- Lower Support: $10.85.
- Target: $70-$100.
DYOR, NFA.
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