Power Ledger Reaches End Of Retrace, Uptrend To Resume

1 Nis 2020

Power Ledger (POWRBTC) retrace is coming to an end, according to some early signals that I am getting from this chart.

First, we had a very strong bullish wave followed by a retraced, POWRBTC found support exactly at the 0.786 Fib. retracement level for the last bullish wave.

• We can also see EMA200 being conquered only to later be tested as support.
  
• Since the support held, now we can expect POWRBTC to move up and test the next resistance.
  
• EMA100 was also tested and held as strong support.
  
• The trading volume is really low on the drop, signaling that the bears are not powerful here.
  
• With a long-wick now and prices moving above EMA10 and EMA50, if the daily candle closes strong, we can expect Power Ledger to continue higher... I've marked one target for your convenience.
  

This is not financial advice.

Namaste.