In this post I am going to cover technical analysis of Power Ledger for Short term trade. I am using tradingview charts and price linked to Bittrex exchange. Let' have a look on technical aspects of Power Ledger.
If you look at 1 hour chart, you will see Power Ledger has mad a big impulsive move and now it is forming a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pull backs and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and now dipping to 50 level now, so we have pull back done and next impulsive move is ready. Let's have a look on Bollinger bands, you will notice the impulsive move took the price to top bands and bull flag is forming now which will pull price back to median line, so we have a possibility of next impulsive move and Power Ledger is ready to Soar.
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