Status Network Token ( SNT 20.00% ) Analysis
This coin is trending downward. The price reached a top on the perfect 9 count on the TD 0.07% Sequential indicator.
You can see a triangle formation on the chart, which means that consolidation is happening and a breakout will happen soon after but, if you look at the indicators they are all overloaded or trending down.
This daily chart is telling me that SNT 20.00% might need a break. If the support line is broken downward, it will might go down hard.
If it breaks up, it has to challenge the recent high and these are very hard to break looking at the indicators on the chart.
I would sell my SNT 20.00% in peace and be looking for a new entry point after the support levels are re-tested. This is if you want to continue trading this coin.
If you are thinking long term in the range of many months then holding is really easy, as price swings are not important in a long hold.
Notes:
- Magenta line show resistance levels.
- Black lines show support.
Hope you enjoyed this analysis.
These are short term signals. This analysis won't be valid a few days or weeks from now, as the charts will always be changing. Since this is mainly a daily chart signals analysis, the signals are updated every day when a new candle is formed.