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Edgeless Coin Uptrend Continuation
Following the previous idea on Edgeless Coin, it has reached the upside target and moved higher. Now the question is how far can it go.
The uptrend has been clearly established since EDG/USD is printing higher highs and higher lows and broke above the strong resistance area around $7.5. On a following corrective wave down Edgeless moved back to test the uptrend trendline and the 200 Moving Average, both of which have been rejected.
All these facts suggest that trend is bullish and is likely to continue.The upside target is seen at $1.6, that is 227.2% Fibonacci retracement level applied to the corrective wave after the resistance breakout. This target goes inline with the extended ascending channel upper trendline.
The uptrend has been clearly established since EDG/USD is printing higher highs and higher lows and broke above the strong resistance area around $7.5. On a following corrective wave down Edgeless moved back to test the uptrend trendline and the 200 Moving Average, both of which have been rejected.
All these facts suggest that trend is bullish and is likely to continue.The upside target is seen at $1.6, that is 227.2% Fibonacci retracement level applied to the corrective wave after the resistance breakout. This target goes inline with the extended ascending channel upper trendline.
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Move up startedNot
nice rallyİşlem kapandı: hedefe ulaştı
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Resistance being rejected, so could potentially correct downNot
at the support.... uptrend continuesNot
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.