This looks like a likely scenario on the weekly chart. Its really hard to say with the current market situation.
Gotta see if we leave our triangle and a break with volume to the upside would still be bullish.
If you are longterm in ETN it doesnt matter anyways, only if you want to swing trade I would wait for the market to take a little more of a direction and possibly a breakout with volume to open a trade.
Okay so when you read your chart how do you define the resistance lines on what you want to see break? Is a resistance line where the coin has been before? If so how do you determine if it is good news if that resistance line is broken? Or does it even work that way? lol Trying to learn but a tad confusing with some of this stuff? I get cup and handle and some of the triangle stuff but not always in how to interpret what the heck I am looking at? Is it always a bit of a crap shoot to try and utilize that info for what is coming down the line? cheers and thanks! I apparently have more reading and learning to do…
lol fair enough perhaps I read into the charts too much sometimes looking for things that are simply not there. Perhaps the urge to be that time traveller is stronger than I thought Cheers @ RSKNOR
Now it’s just a massive bull flag where the bottom support seems to fall in line with the .618 FIB retracement of the entire run up. (Around 205 sats) We may not fall that far though.
We are almost at the point where we broke out last time and that would be in alignment with the .618 FIB level , the “bull flag” and the resistance area of the first part of our rallye. So we may have a nice trading opportunity right at that point. On the other hand if we break that we will likely see more sideways, slightly downwards movement for a while.
To me it seems 220s might hold Some nice buy orders at 222s and 220s in kucoin and cryptopia. We will have to see if the sellers can break through… I think it might hold since it was resistance a month ago.
Sadly I think we may drop to around 200-210 sats with a hard bounce back up. I would love to buy at that level but I’m not moving more FIAT into crypto until we know for certain that the BTC bear market is over. If BTC drops below its current wedge formation, we all know how alt coins will behave.
I’ve been following this thread with interest. I’ve been taking advantage of the large swings in ETN price and I’ve more than doubled the amount of ETN I hold in under a month. In fact, I’m currently making more profit from ETN than any other coin!
I think it will find support at 200, bounce towards it a few times with lower highs for each pump then eventually climb upwards when volatility gets low.
In my opinion, and this is not very technical one, ETN could break through many resistance levels quite fast depending on the quality of the news after 12th of november. Untill now everything has been depending on trust that the team will deliver (speculation) and at that point we could get some actual ground for the price