Hello and welcome to my analysis on NULS. First of all before diving into this TA I would like to inform you all that NULS is a great long term project with strong fundamentals, technology and team behind it but today I will try to swing this coin. As you may know if you keep up with NULS the coin has been in a downtrend after a huge run up that it had a while ago. This downtrend seems to have been broken after the break of the long term descending (you can see the zoomed in version of it on the chart). It recently stopped to form a while the has calmed down but the coin maintained pretty much all of its gains which is a sign. Price is maintaining above the 21 and the other EMA's are pointing upwards while its being supported by the MA's + a "TK" cross has been spotted on the 4H as well. The white box on the chart represents the that NULS is currently facing.
RECAP AND WHY THIS COULD BE A GOOD TRADE:
- Nuls broke the long term descending
- TK Cross spotted
- Wedge forming while maintaining all of its gains
- EMA's pointing to the side
- MA's showing signs of confidence and supporting the overall price
- Upcoming test-net and main chain launch this months
- When we have entered/broken the white resistance box (REALLY )
- When the triangle on the 4H has been broken ( )
- When the cloud has been broken ( )
- 0.00038000 - 0.0004000 (First sign of resistance and the the first fib level that we have to take into consideration)
0.00043000 - 0.0005000 (Second sign of big resistance and the second fib level - I recommend this sell point if you are greedy and really confident in this coin)
Due to the current market conditions ( BTC being extremely ) this trade is risky but it could make you a nice bag of money if you play your cards rights. Also remember that I am not a financial advisor and these charts are being made because I want to share and improve my TA knowledge.