There is a possibility for the beginning of an uptrend in ONTETH

BINANCE:ONTETH   Ontology / Ethereum
Technical analysis:
. Ontology/ Ethereum is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 55.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00390 to 0.00330). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.00390)
Ending of entry zone (0.00330)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
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It's a nice chart and very specific TA. I agree with your idea about the beginning of an uptrend in ONTETH.
+1 Reply
@fxniki, Thanks for sharing your point of view about ONTETH.
+1 Reply