Shift coin has been showing some good performance recently. After breaking above the triangle pattern and finding the support and the downtrend trendline it has jumped up from $1.6 up to $6.4, gaining 280% over the USD.
Today a strong correction took place, bring SHIFT/USD down to the previous all-time high at $3.2 support. Seems that support is being rejected which could result in a continuation of the uptrend, since higher highs and higher lows pattern hasn't been invalidated.
Currently, Shift is trading at the $3.2 support which could attract more investors as the price is relatively cheap. The first upside target is seen at $9.3, which does correspond to two Fibonacci retracement levels, 327.2%, and 661.8%. This price is also very close to the $10 psychological level and could be a strong resistance as well as a good take profit target. Only a break and close below the 200 Moving Average could invalidate bullish outlook.
Today a strong correction took place, bring SHIFT/USD down to the previous all-time high at $3.2 support. Seems that support is being rejected which could result in a continuation of the uptrend, since higher highs and higher lows pattern hasn't been invalidated.
Currently, Shift is trading at the $3.2 support which could attract more investors as the price is relatively cheap. The first upside target is seen at $9.3, which does correspond to two Fibonacci retracement levels, 327.2%, and 661.8%. This price is also very close to the $10 psychological level and could be a strong resistance as well as a good take profit target. Only a break and close below the 200 Moving Average could invalidate bullish outlook.
Comment:
How to do you like Shift? started to move up almost immediately
Trade closed: target reached
Comment:
Shit could go higher since resistance was broken
Comment:
lol, just noticed, not Shit, but Shift of course, sorry guys :)