RBN/USDT 1D. Accumulation. Fake-out. Back to the channel.
Ribbon Finance Secondary and main trends.
As on many cryptos from the beginning of trading history - downtrend. Then breakout of this downtrend and horizontal accumulation channel started to form(stop of price drop).
This channel is lasting for more than 400 days already. This is more than a year already.
Notice that there was a fake-out of this accumulation channel and then price turned back to it. This is a very positive sign for potential bullish price movements.
As for now there has been a downtrend in a secondary trend formed which can be noticed by downtrend line(red on the chart) in this secondary trend.
This downtrend was recently broke above and now we can observe the retest of it.
From the ATL(all time low) - price has moved for 70% already. More of 70% potential is hidden above to the resistance of this horizontal channel.
Then the middle-long term potential is about 400%. I would say about half a year-year for such potential quite real.
The project is going to fully rebrend on AEVO which is why i paid my attention to it and it's certainly a bullish sign also.
The asset can be traded on coinbase, gate and bitget.
As on many cryptos from the beginning of trading history - downtrend. Then breakout of this downtrend and horizontal accumulation channel started to form(stop of price drop).
This channel is lasting for more than 400 days already. This is more than a year already.
Notice that there was a fake-out of this accumulation channel and then price turned back to it. This is a very positive sign for potential bullish price movements.
As for now there has been a downtrend in a secondary trend formed which can be noticed by downtrend line(red on the chart) in this secondary trend.
This downtrend was recently broke above and now we can observe the retest of it.
From the ATL(all time low) - price has moved for 70% already. More of 70% potential is hidden above to the resistance of this horizontal channel.
Then the middle-long term potential is about 400%. I would say about half a year-year for such potential quite real.
The project is going to fully rebrend on AEVO which is why i paid my attention to it and it's certainly a bullish sign also.
The asset can be traded on coinbase, gate and bitget.
Comment:
#RBN/USDT 1D. Reached the support of the channel.
