Yellow: resistance levels
Red: previously untested (now tested) major support and gap fill
Blue: price channel (not support or resistance levels)
RSI is strongly bearish, below 20.
I believe the market has reached its bottom. Now it needs to surpass the price channel and maintain its position within it to experience further upward movement and break the initial resistance level.
The overall market is experiencing significant downward pressure, largely influenced by Bitcoin, but this particular coin shows potential for short to medium-term gains.
Remember to buy at low prices and sell at high prices, while disregarding emotional reactions and fear, uncertainty, and doubt found on the internet. This is how the financial world operates: based on mathematical principles.
Note: This information is provided for educational purposes and should not be considered as financial advice.
Red: previously untested (now tested) major support and gap fill
Blue: price channel (not support or resistance levels)
RSI is strongly bearish, below 20.
I believe the market has reached its bottom. Now it needs to surpass the price channel and maintain its position within it to experience further upward movement and break the initial resistance level.
The overall market is experiencing significant downward pressure, largely influenced by Bitcoin, but this particular coin shows potential for short to medium-term gains.
Remember to buy at low prices and sell at high prices, while disregarding emotional reactions and fear, uncertainty, and doubt found on the internet. This is how the financial world operates: based on mathematical principles.
Note: This information is provided for educational purposes and should not be considered as financial advice.