Entry price: 48-50$
Target price: 54-55$
Chart pattern: Bullish symmetrical triangle. The price just broke the upper boundary of triangle and retested that level as a support. Moreover, the price breakout was confirmed by increased volume.
RSI: Neutral, approaching 60 level, thus, there is still a potential for the future growth.
Conclusions: Chart pattern and RSI suggest bullish momentum of the asset. Therefore, the long position is recommended after the price breakout.
No financial advice
Target price: 54-55$
Chart pattern: Bullish symmetrical triangle. The price just broke the upper boundary of triangle and retested that level as a support. Moreover, the price breakout was confirmed by increased volume.
RSI: Neutral, approaching 60 level, thus, there is still a potential for the future growth.
Conclusions: Chart pattern and RSI suggest bullish momentum of the asset. Therefore, the long position is recommended after the price breakout.
No financial advice
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