A weekly candle closed at a price of $ 0.3213. Sellers stopped dropping above $ 0.315.
The global price is in the triangle of August 14 and at the price of 0.298-0.3 $ now is the lower trend line of the triangle, which sellers have already tried to punch 3 times:
This trend line will show whether ready buyers try to break through the upper trend line and finally complete a global correction. Therefore, my main script remains the same, but it’s possible that sellers will not be able to bid $ 0.28. I will wait for buyers to behave in the price zone of 0.298-0.3 $. From this zone, the probable start of growth with the first target of 0.378-0.388 $:
This is a favorite area for buyers where there is always a problem. If buyers are able to break through this price zone, the next target is $ 0.45.
Last week marginal buyer positions decreased significantly:
Sellers can not do anything about their plans:
According to the wave analysis, in my opinion, the correction is now continuing after the fall and the last wave of growth should begin shortly with the ultimate goal of $ 0.82
This is a very optimistic scenario, however, if my understanding of the wave is correct and the market is significantly expanding, this target is real.
So this week I expect a test of 0.298-0.3 $. I think at the end of this week we will understand the final prospect of price movement.
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This is not financial advice. I don’t take into account of your personal investment objectives, specific investment goals, specific needs or financial situation and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. The information and publications are not intended to be and do not constitute financial advice, investment advice, trading advice or any other advice or recommendation. Any expression of opinion (which may be subject to change without notice) is personal to the author and the author makes no guarantee of any sort regarding accuracy or completeness of any information or analysis supplied.Your Remaining Votes (within 24hrs) : 10 of 10