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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