We've broken mid-term support from upward channel around $42 and currently hovering around $34 mark.
It has been a good run since beginning of Jan (done close to 4x) and the market needs to go through its cycle.
There's a strong support around $34-$39 area so I can see it bouncing up and down here for a while to create extra strong support.
I am still bullish on this token long term as seen in the green trend line and I think after a period of consolidation, it'll take off again. If it happens to break that long term, I will need to re-visit this chart.
There is strong fundamental on this instrument, however unfortunately crypto price is heavily reliant on the King Bitcoin. So $BTC will dictate what really happens and will continue to ruin charts at its own peril.
Having said that whole of crypto market cap has increased 3x very quickly and it has been a little oversold, so this is a nice correction before next leg up.
GLTAH
It has been a good run since beginning of Jan (done close to 4x) and the market needs to go through its cycle.
There's a strong support around $34-$39 area so I can see it bouncing up and down here for a while to create extra strong support.
I am still bullish on this token long term as seen in the green trend line and I think after a period of consolidation, it'll take off again. If it happens to break that long term, I will need to re-visit this chart.
There is strong fundamental on this instrument, however unfortunately crypto price is heavily reliant on the King Bitcoin. So $BTC will dictate what really happens and will continue to ruin charts at its own peril.
Having said that whole of crypto market cap has increased 3x very quickly and it has been a little oversold, so this is a nice correction before next leg up.
GLTAH