Alternatively, if you are thinking of Monero buys, you should wait for a retest of 0.025 BTC for sweet entries-and by that I mean low risk and potential of high rewards entries. Otherwise, the boring accumulation in other high cap alt coins on focus is not helping spread my “bullish” gospel!
Let’s have a look at other alt coin charts 24Hours later and NEM prices are flat and consolidating horizontally. Of course from the way price action is set up, especially now we have this accumulation, it gets hard to define trend direction. For certainty, we need NEM prices to close above the 50% Fibonacci retracement level.
The longer it stays in consolidation mode, the stronger the break out. Buyers can take cue from candlestick higher highs relative to the lower BB in the 4HR chart which might hint of buy pressure today.
Now that we have that close above the middle BB, Lumens buyers can begin loading up their position as price action is now aligning to last week’s trend. Besides, this specific close above middle BB is in line with yesterday’s forecast.
The main resistance trend line stays as IOTA ceiling for now. Unless there is a strong close above it today, buyers should stay on the sidelines as they wait for a strong close above our trigger line. Read more from newsbtc.com…
thumbnail courtesy of newsbtc.com