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Bancor Rally Could Have Started
Bancor continues to reject the long-term uptrend trendline, with the most recent bounce occurred in April, when it found the bottom at $2. Since then price went up by nearly 200% and found the top at $6 area.
The correction down followed and BNT/USD found the support at 78.6% Fibs, that is $3.5 level, which previously acted as the support as well as resistance. While the support is holding, Bancor is likely to continue trending upwards with the final target at 327.2% Fibs, applied to the recent corrective wave down. This is $12 area, that corresponds to the upper trendline of the ascending channel.
At this stage consolidation between $4.5 and $3.5 is possible and could take few weeks before Bancor will start moving higher. But only daily break and close below $3.4 could invalidate bullish outlook.
The correction down followed and BNT/USD found the support at 78.6% Fibs, that is $3.5 level, which previously acted as the support as well as resistance. While the support is holding, Bancor is likely to continue trending upwards with the final target at 327.2% Fibs, applied to the recent corrective wave down. This is $12 area, that corresponds to the upper trendline of the ascending channel.
At this stage consolidation between $4.5 and $3.5 is possible and could take few weeks before Bancor will start moving higher. But only daily break and close below $3.4 could invalidate bullish outlook.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.