SPELLUSD strong bullish break-out

2022年8月9日

The Spell token (SPELLUSD) has recently broken above the Channel Down pattern that it's been trading in since December 27 2021. Yesterday it made another big bullish break-out as it broke above the 1D MA100 (green trend-line) for the first time. Ideally we would like to see a 1D candle close above it and the 0.382 Fibonacci retracement level as well but with the 1D MACD invalidating a Bearish Cross that was previously seen on the Channel's Lower Highs, we expect this to be the decisive move to start a long-term bullish trend. We are targeting the 1D MA200 (orange trend-line) on the short-term.


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