ONE has been trading in an ascending parallel channel on the 3 day chart for some time; finding support multiple times near the bottom of the channel. Recently, it has made a strong move upwards to beat its resistance at ~0.22 and confirm it as support.
It is trying to push toward the top of the channel however with the market conditions as they are (if BTC loses its ~45k support), a dip toward the bottom of the channel is likely. If BTC shows stability and strength, I think ONE can move up.
For the mid-long term, I am still bullish as ONE is currently trading above all EMA's, so a dip toward the bottom could be a perfect place to accumulate for a hold toward the top of the channel.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments, questions and thoughts below!
It is trying to push toward the top of the channel however with the market conditions as they are (if BTC loses its ~45k support), a dip toward the bottom of the channel is likely. If BTC shows stability and strength, I think ONE can move up.
For the mid-long term, I am still bullish as ONE is currently trading above all EMA's, so a dip toward the bottom could be a perfect place to accumulate for a hold toward the top of the channel.
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments, questions and thoughts below!