EuropeCoin clearly trending upwards as the uptrend trendline is being rejected repeatedly. On the last corrective wave down from $1.35, ERC/USD lost 67%, and the fall was stopped by the uptrend trendline as well as 88.6% Fibonacci retracement level.
After rejecting the support price jumped up to $0.9, gaining over 100% in less than a day. However the descending channel has been rejected and in order for EuropeCoin to prove the uptrend, daily close must be above $0.93 which currently acting as a resistance. Break above should result in a continuation of the uptrend which could send price as high as $1.9, that is a 100% gain from the current price. At the same time, $1.42 resistance level should be watched as the first potential upside target.
On a downside, only a daily break and close below the $0.32 could invalidate bullish outlook.
After rejecting the support price jumped up to $0.9, gaining over 100% in less than a day. However the descending channel has been rejected and in order for EuropeCoin to prove the uptrend, daily close must be above $0.93 which currently acting as a resistance. Break above should result in a continuation of the uptrend which could send price as high as $1.9, that is a 100% gain from the current price. At the same time, $1.42 resistance level should be watched as the first potential upside target.
On a downside, only a daily break and close below the $0.32 could invalidate bullish outlook.
Kommentera:
Resistance still holding
Kommentera:
europecon at the support
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