20323.3-20647.3 The key is whether it can rise above this level

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The April TradingView competition is sponsored by PEPPERSTONE.

Accordingly, we will look at the coins (tokens) and items that can be traded in the competition.

Let's talk about the NAS100 chart.

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(NAS100 1M chart)

I think the stock market is fluctuating due to the rapidly changing situation and various economic issues.

Therefore, I think it is not easy to analyze index charts such as NAS100 and US30.

However, since the HA-High indicator of the current 1M chart is newly generated and is showing a downward trend, if it does not rise above 20647.3 when the competition starts, it is likely to eventually fall.

If it falls below the M-Signal indicator of the 1M chart, it is necessary to check for support near the Fibonacci ratio range of 0.5 (15898.2) ~ 0.618 (17130.8).

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(1D chart)

The key is whether it can receive support near 19598.6, the HA-Low indicator point of the 1D chart, and rise above the M-Signal indicator of the 1W chart.

If not, it is expected that it will eventually meet the M-Signal indicator of the 1M chart and determine the trend again.

Currently, the price is being maintained above the M-Signal indicator of the 1M chart, so it is maintaining an upward trend in the medium to long term.

Therefore, when the competition starts, you should respond depending on whether the price is being maintained above or below the M-Signal indicator of the 1D chart.

Currently, the short-term support zone is 19269.9-19598.6, and the medium to long-term resistance zone is 20323.3-20647.3.

Even if it is supported and rises in the short-term support zone, if it fails to break through the medium to long-term resistance zone, it will eventually fall.

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Thank you for reading to the end.
I hope you have a successful transaction.

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