CoinDash bottomed out at $0.029 after which the consolidated started. CDT/USD continues trading between $0.03 support at $0.055 resistance. While the trend remains bearish, the recent break above the 50 Moving Average suggests that the price could correct higher.
The key resistance is seen at $0.092, that is 23.6% Fibonacci retracement level applied through the all-time high. It corresponds with the upper trendline of the descending channel as well as the downtrend trendline.
At this stage small correction down is likely, to test 50 Moving Average once again. However, it is should take long before price reaches the $0.092 resistance. Break and close above it will open much more upside potential, while rejection should result in a correction down, perhaps back to $0.29 to produce a double bottom.
Source: Read Full Article
- VeChain [VEN] unveils its upgraded whitepaper and development plan – Introduces Blockchain X
- Tether Rumored to Face Double-Spend Attack, Research Firm Clears Allegations | BTCMANAGER
- PayPal’s Venmo Expanding Crypto Support With Cashback Conversion Feature
- Crypto Real Estate Company Epoch BTC Integrates with Changelly | BTCMANAGER
- GDAX is all set to evolve into ‘Coinbase Pro’ while Coinbase awaits SEC approval