Two HUGE trendlines intersecting to form this MASSIVE triangle with breakout targets to the high side and low side of around $0.61 and $0.36, respectively. An existing support line at $0.36 caused me to shave a little bit extra off the downside price target. I see the high-side target as slightly more likely anyway which is smooth sailing and just seems more like the way the wind is blowing given the macro crypto environment in the first couple days of November. That downward sloping trendline looks formidable though so who knows.
If you could zoom in here you'd see a retest of the upper bound of the triangle following a high side breakout and the price action is currently wedged between the triangle and a long time horizontal support/resistance line. In this sense price is currently trapped between a rock and a hard place, so hopefully the price action out of this position will be a strong move.
If you could zoom in here you'd see a retest of the upper bound of the triangle following a high side breakout and the price action is currently wedged between the triangle and a long time horizontal support/resistance line. In this sense price is currently trapped between a rock and a hard place, so hopefully the price action out of this position will be a strong move.