Hi guys,
I would like to share my analysis about Singularitynet. As you can see at the chart, we got three bullish divergences on the MACD. In each divergence, the price increased forming a descending flag.
Recently we have got another bullish divergence on the MACD, but at this time we have not too much more space in the descending flag. Note that the daily MA 200 is converging with the top of the falling wedge, so we will see a huge resistance at this point but there is a little opportunity to see a breakout in the next weeks because the space of this falling wedge is ending. If the price break above this falling wedge, the target could be at 650 satoshis.
Falling Wedge: When a security's price has been falling over time, a wedge pattern can occur just as the trend makes its final downward move.
I would like to share my analysis about Singularitynet. As you can see at the chart, we got three bullish divergences on the MACD. In each divergence, the price increased forming a descending flag.
Recently we have got another bullish divergence on the MACD, but at this time we have not too much more space in the descending flag. Note that the daily MA 200 is converging with the top of the falling wedge, so we will see a huge resistance at this point but there is a little opportunity to see a breakout in the next weeks because the space of this falling wedge is ending. If the price break above this falling wedge, the target could be at 650 satoshis.
Falling Wedge: When a security's price has been falling over time, a wedge pattern can occur just as the trend makes its final downward move.