Cryptocurrency HEX is one of the weakest for the least year, but from Elliott wave perspective, we can see it finishing an A-B-C corrective decline from all-time highs.
Wave C is a motive wave and it should be completed by a five-wave cycle of the lower degree and you can see, it can be now trading in final stages of wave 5 of C.
From technical point of view, we can see it approaching important and strong 0.03 – 0.01 support zone at the former lower degree wave 2 and higher degree wave IV, from where we can expect a bullish reversal. However, keep in mind that bulls can be activated only if we see sharp or impulsive recovery back above 0.10 region.
All the best!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Wave C is a motive wave and it should be completed by a five-wave cycle of the lower degree and you can see, it can be now trading in final stages of wave 5 of C.
From technical point of view, we can see it approaching important and strong 0.03 – 0.01 support zone at the former lower degree wave 2 and higher degree wave IV, from where we can expect a bullish reversal. However, keep in mind that bulls can be activated only if we see sharp or impulsive recovery back above 0.10 region.
All the best!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
