XEM/USD bullrun prospects. So, let's evaluate chart history, I'm not a fan of short forecasts, and we should look at broader patterns. To do this, let's try to build a Fibo channel on a weekly chart (with logarithm enabled, it's important) so that the ascending diagonal is 0 from which the growth starts.
1. The first episode. The price went up to 0.236 Fibo, and for some time sneaked over up this line, using it as support. From it the start was made to 0.618 Fibonacci, after which the correction made a pullback to 0.236 level. The growth was over ~21000%.
2. The second episode. From the level 0.236 the price has made upwards exactly to one (1). Interestingly, the top of first weekly candle (listing candle) is exactly the same as the level of one (1). The global movement was not over and the price held0.786 level. It began a further assault, which logically should have ended at 1.618, but this did not happen, because market finally overheated in the first days of January 2018.
3. And here we are. Starting again from level 0 (I propose to consider this as the current starting point on weekly chart on July 27). And let's assume that this is a repeat of first episode scenario, where 0.618 has a ceiling for this run, which will inevitably end with a rollback of 0.236. And one more condition, let's assume that the New Year's Eve, start of the newest NIS2 Symbol (XYM) Net in December (forum.nem.io read carefully!!!!) and the falling BTC dominance merge into devil's cocktail, when the price is really "heated up». Pull the price to 0.618 in the channel with a point before the New Year... And we see that for this price must be done as a much smaller mileage of ~5400%. The remaining time of 3-4 months is quite enough for that.
Long-term diagonal resistance defeated.
Ichimoku clouds on the weekly graph have already been bullishly configured.
The price is traded above EMA200.
Not a trade advice.
That's all for now.
