✴️ Request Network Long-Term Consolidation Channel

Request Network has been moving sideways within a wide long-term consolidation channel with a long-term higher low. The daily RSI is at 51 (bullish) while prices trade near support.

A strong RSI with low/near support prices is a very important signal. You would normally get a "weak" RSI reading when prices are low and dropping.

Having a strong RSI means that a bullish breakout can now happen anytime, any day.

This pair looks bullish to me... Buy & hold is my strategy; Think and focus on the long-term.

The future is bright for the Cryptocurrency market.

Namaste.

Commento:

Perfect bullish breakout confirmed.
The breakout is always the beginning and is followed by additional growth.

Commento:

Today's move is the real deal... A new trend should develop from it.

In July, EMA300, EMA200 and MA200 worked as resistance.
This time REQUSD is trading above these levels.

Closing above these EMAs to the upside would be the first time this happen since August 2021, right before an incredible bull-run. We can be witnessing the start of something similar... A new bull-market.

Commento: