Energy Web Token + simple TA.
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Hello again, I like to bring you something from DeFi.
Today, it will be EWT, actually rank 52.
It's not yet listed at many exchanges with decent total supply.
EWT focuses on building core infrastructure and shared technology, speeding adoption of commercial solutions, and fostering a community of practice.
In 2019 EW launched the Energy Web Chain, the world’s first open-source, enterprise blockchain platform tailored to the energy sector. EW’s technology roadmap has since grown to include the Energy Web Decentralized Operating System (EW-DOS), a “blockchain-plus” suite of decentralized solutions.
If you make a deep DYOR, you can found strong fundaments and connections to Tesla, Berkshire Hathaway, Shell, and list going on...
TA
Since EWT listed on KuCoin. we have yet no too much price action history. So let's see, what could be find at 4H timeframe.
From the end of August, EWT created downtrend regression channel. Every test at the top of channel & MA50 was rejected.
Here isn't displayed the whole chart history of EWT. Strong rally was done from 0.80 usd to 12 usd. There is for sure a much more space to fall down. That's the reason, why my Fibo is reversed and I am staying neutral before something happen.
Energy token made few gaps. 8.26usd is filled, 11.64usd is above. From September 5, EWT started to create low highs and higher lows in symetrial triangle ( pink ) and target could be exactly around gap above at 11.64 usd. It's also near my 382 Fibo level.
For start some uptrend, conditions in a next days are:
- hold around 786 Fibo
- upside breakout from the pink triangle
-get about 50MA (red) = also matching with the golden fibo area
That's all. I will try to update.
*This is not a financial advice.
Today, it will be EWT, actually rank 52.
It's not yet listed at many exchanges with decent total supply.
EWT focuses on building core infrastructure and shared technology, speeding adoption of commercial solutions, and fostering a community of practice.
In 2019 EW launched the Energy Web Chain, the world’s first open-source, enterprise blockchain platform tailored to the energy sector. EW’s technology roadmap has since grown to include the Energy Web Decentralized Operating System (EW-DOS), a “blockchain-plus” suite of decentralized solutions.
If you make a deep DYOR, you can found strong fundaments and connections to Tesla, Berkshire Hathaway, Shell, and list going on...
TA
Since EWT listed on KuCoin. we have yet no too much price action history. So let's see, what could be find at 4H timeframe.
From the end of August, EWT created downtrend regression channel. Every test at the top of channel & MA50 was rejected.
Here isn't displayed the whole chart history of EWT. Strong rally was done from 0.80 usd to 12 usd. There is for sure a much more space to fall down. That's the reason, why my Fibo is reversed and I am staying neutral before something happen.
Energy token made few gaps. 8.26usd is filled, 11.64usd is above. From September 5, EWT started to create low highs and higher lows in symetrial triangle ( pink ) and target could be exactly around gap above at 11.64 usd. It's also near my 382 Fibo level.
For start some uptrend, conditions in a next days are:
- hold around 786 Fibo
- upside breakout from the pink triangle
-get about 50MA (red) = also matching with the golden fibo area
That's all. I will try to update.
*This is not a financial advice.
Nota
EWT made nice breakout with volume. Nota
ENERGY made also first higher high from it's downtrend. If breaks local bull flag, can continue higher. Nota
EWT creating something between falling wedge or extended bullflat. Be aware if will fall below 0.65 retracement.Nota
Another breakout, but without volume. Gold cross at 1H timeframe also created. Nota
Based on higher highs and lows and no volume at breakout from falling wedge it's finally bull falg. Potential uptred should started. Nota
If you extend flag lines, it seems to be breakout. But volume is kind week, even at 1H timeframe. You can move higher stop loss , if you trading. Watch out for breakdowns.Nota
4H view. EWT needs to get above 0.5 Fibo.Nota
To hit 382 Fibonacchi soon, EWT will need to make a new local high everywhere above 11.249 usd. Here´s also crossing near the top of regression channel. If you still trade, thight your stop-loss more. Some retracement could occure if price action stay without volume, at least at 1H timeframe.
Nota
I am bringing also EWT/BTC view here. The strongest resistance is above 786 Fibo. Overall, looks good for longer term perspective. Nota
Sunday market in red. EWT still holding and created falling wedge (blue), which is mostly bullish pattern. If you trade, watch out , if today weekly candle close below 0,65 Fibo. Bitcoin could drag price lower. But for now looks good. Nota
No volume, however bottom of the channel holding.Nota
You can notice that potential Cup & Handle formation is added. There is condition to breakout above 11.249usd high, which acting as neckline. EWT is also at the bottom of regression trend. If breakdown occure, downside target is shown by red arrows. Greens are for upside. It can take some time to happen.
Nota
Time to update regression trend channel. Red and green arrow displays potencial downside and upside targets for a next 10 days. If something happen, I will post new chart. A lot of updates was made here :vNota
We could make an ascending triangle ( green) from support and local high. Into this formation is also Cup&Handle bullish formation. Fibo is reversed to the upside.Nota
Support was hit. Nota
Support is broken. Needs quickly back above.Nota
Nice, quick pull back. Soon, I will make a new chart. A lot of updates here.Nota
Nota
Energy started to form potential inverse Cup&Handle or inverse Head&Shoulders.Nota
If EWT falls below 8.9usd local low. Potential Head&Shoulders isn't valid anymore.Nota
Few minues later. EWT printed new local low and HS pattern is now invalid. Nota
Ewt is near the Fibo 0 level. I can see more downside risk also at BTC.Nota
EWT/BTC seems to hold support.Dagangan ditutup: sasaran tercapai
This TA is closed. I will post new, if i notice something interresting.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.