Possible ascending triangle forming. Bounced off rising support and there's some resistance at 0.0390. If the macd curls up with this bounce price could range between the rising support and 0.03904. If it breaks out above 0.03904, it is possible to hit the recent high (0.04580). Breaking out below could result in a fall down to 0.03020. Recent dump from swing high a result of BTC (normal).
If we break the swing high we could see resistance at fib 1.618 (0.0525), and even further, at ATH (0.0580). It's important to note the psychological resistance of 0.0500 though, this level could be respected and fail to be broken multiple times before a break to previously mentioned targets.
Overall still bullish.
Support levels:
0.03490
0.03020
Resistance levels:
0.03904
Recent high of 0.04580 (see fib level 1)
(this is just me logging my TA to see how often I am right vs wrong, do not take this seriously)
If we break the swing high we could see resistance at fib 1.618 (0.0525), and even further, at ATH (0.0580). It's important to note the psychological resistance of 0.0500 though, this level could be respected and fail to be broken multiple times before a break to previously mentioned targets.
Overall still bullish.
Support levels:
0.03490
0.03020
Resistance levels:
0.03904
Recent high of 0.04580 (see fib level 1)
(this is just me logging my TA to see how often I am right vs wrong, do not take this seriously)
Commento:
broke out, found resistance at 0.786 fib and 0.039 price level now acting as support