Price has invalidated the Hammer and is breaking lower. There is a
confluence support level around 0.5 which may give some relief,
but Bulls would like to see a move, as shown with the green arrow
in the chart. If 0.5 breaks down, look for intermediate support
at 0.4 and then 0.2 looks to be the next solid support level.
It is looking bleak for the pair, as with many others, as the total
market cap keeps falling. But we are reaching levels, were long
term bigger holders will see it as a good opportunity to step in,
investors with a few years of investment horizone. It can shift
quickly. Some bullish divergence by the Daily S1 currently at 0.6.
A bounce is likely to be sold off.
Support:
0.5-0.52 Yearly S1/Weekly S1/
Daily S2/Daily SMA200
0.4 S/R level Daily S3
0.2 Monthly S1/Weekly S2
Resistance:
0.65 S/R level
0.88 S/R level
confluence support level around 0.5 which may give some relief,
but Bulls would like to see a move, as shown with the green arrow
in the chart. If 0.5 breaks down, look for intermediate support
at 0.4 and then 0.2 looks to be the next solid support level.
It is looking bleak for the pair, as with many others, as the total
market cap keeps falling. But we are reaching levels, were long
term bigger holders will see it as a good opportunity to step in,
investors with a few years of investment horizone. It can shift
quickly. Some bullish divergence by the Daily S1 currently at 0.6.
A bounce is likely to be sold off.
Support:
0.5-0.52 Yearly S1/Weekly S1/
Daily S2/Daily SMA200
0.4 S/R level Daily S3
0.2 Monthly S1/Weekly S2
Resistance:
0.65 S/R level
0.88 S/R level
