Moonriver Reversal Pattern Updated (159%, 489% & 820% Pot.)

6 gün önce

Back in late 2023 Moonriver (MOVRUSDT) produced a rounded bottom before a major bullish wave. Now, in 2024, we are seeing triangular bottom, which ends in an ascending triangle before bullish growth. We also have almost 5 months of consolidation below resistance.

The reversal pattern on its own is good but the fact that the action is moving today above the triangle's neckline (or baseline) is the most interesting part. If the pattern is not complete, anything goes; but once in the bullish zone, the probabilities favor a continuation.

In this MOVRUSDT chart we have a long-term higher low and after 9 months of bearish action, a major correction, I wouldn't be surprised to see growth.

Chart like this one are quite mixed. We can see bullish next day or next week but the breakout can happen within months; patience is key.

You can find the targets on the chart. These are short- to mid-term. Long-term it can go higher and higher and higher... And higher.

Thank you for reading.

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Namaste.