Newscrypto (NWC) - rejected at support, going strong
On this NWC chart we are looking at two key levels. The gren on has been previously a strong resistance and has now turned into support and the bulls are defending it aggresively.
The purple one, previously support, now became resistance, since the kucoin partnership, where the sharp increase in price occured, NWC has been trading in a slight downtrend channel and it has now reached its strong support. However, lately BTC is pretty weak and i'd say that is the reason that alts are performing poorly lately.
I think that bulls are getting ready new run towards the purple zone (resistance), as you can see RSI is heading sharply up which is a great sign and it tells us that buying pressure is strong.
In my opinion this is a great entry point.
The purple one, previously support, now became resistance, since the kucoin partnership, where the sharp increase in price occured, NWC has been trading in a slight downtrend channel and it has now reached its strong support. However, lately BTC is pretty weak and i'd say that is the reason that alts are performing poorly lately.
I think that bulls are getting ready new run towards the purple zone (resistance), as you can see RSI is heading sharply up which is a great sign and it tells us that buying pressure is strong.
In my opinion this is a great entry point.