This coin has been experiencing a healthy rise in popularity due to its solid developing team, hybrid PoW and PoS mining, among other factors, and its showing strong resistance to downfalls unlike other cryptos. Keep in mind this is a coin I intend on investing long term, and am currently looking for good entry points to maximize profits in the future.
So what do we see from this chart:
Price is flerting with the downtrend line, and I belive a correction in price is due for some time now. DMI- and DMI+ crossover, MACD crossover and RSI fall gives us a bearish sign for the momment. But again, this is a solid coin that has been resistant and showing great healthy improvement for the past months, so I wouldn't expect a very sharp fall in price.
We can use the following indicators to try and predict where it can drop to. SMA 100 and Fibo 0.50 form a solid support zone right under the downtrend line, and if price actually breaks that line, this could be a target and a very good entry point. Personaly, i'll be watching this coin closely, and if the afore mentioned happens, i'll get in big and hold for the long run.
Share your thoughts and ideas please, and feel free to correct me.
Daniel
So what do we see from this chart:
Price is flerting with the downtrend line, and I belive a correction in price is due for some time now. DMI- and DMI+ crossover, MACD crossover and RSI fall gives us a bearish sign for the momment. But again, this is a solid coin that has been resistant and showing great healthy improvement for the past months, so I wouldn't expect a very sharp fall in price.
We can use the following indicators to try and predict where it can drop to. SMA 100 and Fibo 0.50 form a solid support zone right under the downtrend line, and if price actually breaks that line, this could be a target and a very good entry point. Personaly, i'll be watching this coin closely, and if the afore mentioned happens, i'll get in big and hold for the long run.
Share your thoughts and ideas please, and feel free to correct me.
Daniel