Hello everyone
We are looking at the daily Newscrypto chart. NWC has been in the descending channel for a long time. We can also see that the double top was formed and NWC it's way to test the resistance of the downtrend line.
The resistance was finally broken when Newscrypto project announced its first of a kind staking event with KuCoin. So fundamentals are strong for this one.
Moving forward we can see that NWC also formed a bullish flag right on top of the historical resistance line. A bullish flag is a strong bullish indicator. Also, the event on KuCoin will happen this Friday June 12th and we can expect strong buying pressure.
Both technical and fundamental analysis is suggesting that NWC should rise.
I would say that this is an excellent entry point.
We are looking at the daily Newscrypto chart. NWC has been in the descending channel for a long time. We can also see that the double top was formed and NWC it's way to test the resistance of the downtrend line.
The resistance was finally broken when Newscrypto project announced its first of a kind staking event with KuCoin. So fundamentals are strong for this one.
Moving forward we can see that NWC also formed a bullish flag right on top of the historical resistance line. A bullish flag is a strong bullish indicator. Also, the event on KuCoin will happen this Friday June 12th and we can expect strong buying pressure.
Both technical and fundamental analysis is suggesting that NWC should rise.
I would say that this is an excellent entry point.