We can see a long term baseline of support on the 4 hour chart which successfully held after a 50% drop on the entire move.
After the bounce, we have hugged the first support level at 1.93 range, which has been a significant support level previously.
I expect the price to consolidate between the rising baseline and upper support level in the (1.78 - 1.95 range) before a curving upwards towards the $3 - $4 mark.
Should we see confirmed closure beneath the baseline, We can expect a drop to the $1.63 level, and the $1.2 range if this does not hold.
However, there are a number of things that could put the bulls back in control, namely new exchange listings, (Japanese DMM exchange) potential new partnership announcements, and the release of the Q4 report from 2017.
However this is crypto, anything can happen.
After the bounce, we have hugged the first support level at 1.93 range, which has been a significant support level previously.
I expect the price to consolidate between the rising baseline and upper support level in the (1.78 - 1.95 range) before a curving upwards towards the $3 - $4 mark.
Should we see confirmed closure beneath the baseline, We can expect a drop to the $1.63 level, and the $1.2 range if this does not hold.
However, there are a number of things that could put the bulls back in control, namely new exchange listings, (Japanese DMM exchange) potential new partnership announcements, and the release of the Q4 report from 2017.
However this is crypto, anything can happen.
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Testing long term support again, lets see if we bounce...
Testing long term support again, lets see if we bounce...