KORE is on sale as it hit the lowest price it has seen since June 2017. In fact, the key support it finds itself on was once a multi-year resistance line. It is in a falling wedge and the volume and volatility are getting tighter and tighter. This usually means extreme volatility isn't far away, for which we will be looking for a breakout to the upside. Bullish divergence has been developing for the past month on the MACD as well. Whether this is a completion of the larger pattern or not remains to be seen, but one could make that argument. If so, we could be in for one hell of a ride!
Comment:
The latest Bitcoin collapse caused KORE to fall through its support levels and find support in a much larger falling wedge pattern. Unless KORE gets some buyer support,the price may stay within these levels until November when the pattern completes.