SNM is bouncing off a strong support against bitcoin. As OBV is growing, there are chancese that this increasing money flow will provide the fuel to break the falling trend line to the upside.
The coin has been on accumulation for a while after a strong correction, the trend may reverse from now in this contexte of puming altcoins.
Bullish signal on the daily chart :
- The trend is bullish since the signal has been given by the SuperTrend indicator
- The SuperTrend also provides support and resistance levels. Currently, the coin is boucing off its support
- The Macd is right now confirming the bullish cross
- OBV is growing indicating that money is steadily entering this coin since the beginning of the year
Targets are the previous highs. Since the market is very volatile and uncertain at this time, the best place for the stop loss is below the support level at 122.
Feel free to share your opinion in the comments, drop a like if you appreciate the idea and follow me for more oportunities.
The coin has been on accumulation for a while after a strong correction, the trend may reverse from now in this contexte of puming altcoins.
Bullish signal on the daily chart :
- The trend is bullish since the signal has been given by the SuperTrend indicator
- The SuperTrend also provides support and resistance levels. Currently, the coin is boucing off its support
- The Macd is right now confirming the bullish cross
- OBV is growing indicating that money is steadily entering this coin since the beginning of the year
Targets are the previous highs. Since the market is very volatile and uncertain at this time, the best place for the stop loss is below the support level at 122.
Feel free to share your opinion in the comments, drop a like if you appreciate the idea and follow me for more oportunities.