$EMC - Emercoin Daily Chart Bittrex

I have hopes for Emercoin and we saw a positive breakout back into the bull area, but alas we broke the trend line and the channel only to find resistance against the 200 period moving average. Until this happens, I do not see a valid entry here though I continue to bide my time. Volume again is too low for there to be a break though that can always change. There is a MACD cross but momentum again is very low. I will continue to keep my eyes on this coin and see where we retrace to from this drop. If volume does increase we need to see a close above the 200 period moving average to consider a trade. I continue to wait.