2 hour chart, will be interesting to see how this plays out tomorrow, very heavy resistance at the 161% retracement level, but if broken through and support at that level is shown, it can potentially mean the next fibonacci retracement zone being 57 - 90.
MACD looks like it wants a reversal as well, so that gives me some further confidence for the Fibonacci levels and price action, and lastly, the ADX & DI Indicator showing convergence and consolidation within its range also signaling a bullish price swing.
The second path I highlighted as well, just in case the resistance at that fibonacci level is too much, which in turn would knock the price down. Not saying this goes right back to $30, but the yellow highlighted horizontal support levels are important price levels to look for when looking for support, as well as a reversal.
In my opinion, things are looking bullish to me on this chart, as well as 30 min and 15 min charts.
Break out of this 57-58 Range and we have not only a fibonacci support zone now, but as well as a breakout from this pennant. GLTA
MACD looks like it wants a reversal as well, so that gives me some further confidence for the Fibonacci levels and price action, and lastly, the ADX & DI Indicator showing convergence and consolidation within its range also signaling a bullish price swing.
The second path I highlighted as well, just in case the resistance at that fibonacci level is too much, which in turn would knock the price down. Not saying this goes right back to $30, but the yellow highlighted horizontal support levels are important price levels to look for when looking for support, as well as a reversal.
In my opinion, things are looking bullish to me on this chart, as well as 30 min and 15 min charts.
Break out of this 57-58 Range and we have not only a fibonacci support zone now, but as well as a breakout from this pennant. GLTA