It is definitely harder to predict price patterns on these brand new coins, but Ima give it a try.
Here we see Fib from low to high. You'll also see some trendlines that have started to form and support levels I've drawn.
So, let's make heads and tails of this.
Fib. is self-explanatory. I've drawn it from around the low to around the high of this coin. First major resistance comes in at .001. So, that will be our TARGET.
You can see that the current trend is upwards. I've drawn in these trendline both on the price chart and the RSI chart.
Support levels are: .00059 (this will be our stop out), .00053, and down from there .00036.
Resistance levels are: .00072 and .00079. We are currently fighting both. We are also forming an ascending triangle pattern against both (a good sign).
However, we are also at the top of our Bollinger Band and nearing overbought conditions on the RSI. This is our caution to put in your stops.
In conclusion, the charts favor an upward move but they are also admonishing us to be careful. My TARGET for this trade is .001.
Happy trading all!
