Will MultiversX (EGLD) print a 1500% move to $400?On the above weekly chart price action has recently corrected 60%. A number of reasons now exist to consider a long position. Including:
1) Trend reversal. Higher highs higher lows print.
2) Past resistance (red arrows) now confirm support.
3) 1 and 2 is also true for RSI
4) The falling wedge. With the confirmation of 1 and 2 a forecast can be made as is measured from within the wedge (blue arrows). A 1700% print from the support confirmation to almost $500.
Is it possible price action continues correcting? Sure.
Is it probable? No
Ww
Type: trade
Risk: <=6%
Timeframe for long: now
Return: Read the idea again