I have been talking about it for several months now, and I was fairly certain that it was just a matter of time before we would see it. Price was consolidating for a very long time and it has been completely stable for the last weeks which is very unusual for a non stable coin (it literally traded between 50-54 cents for a month).
This is the chart from my last TA post about KOIN:
This was back in July and instead of a breakout back then we got several weeks of more consolidation. Now the chart looks like this:
Price broke the two resistances; the line as well as the dotted line which rather indicates a resistance zone. So far the price action looks very silimar to what we saw at the end of March. This was a very volatile price movement going from around 30 cents to almost $1. With price now taking off 20 cents higher at 50 cents, we can expect price to go above the $1 area. At least two things have to happen for that:
In the July post I also gave a bigger outlook for KOIN. Here it is again and I think it still holds, Although the time frame is slightly shifted:
After encountering our target, we can expect a larger sell off into the 70-80 cents area. But I will make a more detailed post about it once this target is reached.
Check out the project at www.koinos.io
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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