The weekly candle closed at a price of $ 0.3218. Buyers could not fix themselves above the price range of $ 0.377-0.387. After a failed high, the price dropped sharply. This coin is in the same situation as BTC. Buyers and sellers behave similarly.
Buyers have sharply closed their positions after an unsuccessful breakthrough attempt of $ 0.377-0.387.
Marginal positions of sellers are in consolidation.
If buyers keep $ 0.317, then it is highly likely that this price will start to grow with the first target of 0.377-0.387 $. This price zone remains the critical point of this coin.
Now the price is consolidated under the break of sellers in the price range of 0.342-0.348 $.
Therefore, while the price is under this price zone, the probability of a continuation of the fall is greater.
On a wave analysis, the wave of C = 0.618 * A in the price of 0.326 $
If buyers do not keep this price, then sellers will continue to fall to $ 0.28.
Also, at this price, the current wave of fall corrected growth of December 17 by 78.6%:
This means that growth from December 17 could be the first wave of growth and after correction we should expect a new, even stronger wave of growth. However, this is in the case if buyers will hold $ 0.326.
So far, the volumes for sale are small. The purchase signal will come when buyers try $ 0.342-0.348 or in the price zone of $ 0.326.
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