Brief Analysis——TOMO
Today we selected two tokens from the tokens listed on Binance for brief analysis. They are TOMO and STMX.
In the first half of 2023, TOMO rose with fluctuation, and the low point of each callback was higher than the previous one. There was an upward pin-bar on May.28. After that, the price went into a long period of fluctuation. In the last week the price was near the high again, but consecutive red candles appeared, and the price fell back near the lower rail of the yellow range. The slope of the decline is gradually increasing, and there is no bullish power in the process.
Conclusion: The high probability decline has not ended. TOMO maintains bullish on a large scale, but the bears is stronger than the bulls recently. The decline is likely to continue. However, the current price is close to the lower rail of the yellow range where the bulls will increase. So this conclusion is drawn. We set the resistance level at 1.65, the upper rail of the yellow zone, and set the support level at 0.97.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
In the first half of 2023, TOMO rose with fluctuation, and the low point of each callback was higher than the previous one. There was an upward pin-bar on May.28. After that, the price went into a long period of fluctuation. In the last week the price was near the high again, but consecutive red candles appeared, and the price fell back near the lower rail of the yellow range. The slope of the decline is gradually increasing, and there is no bullish power in the process.
Conclusion: The high probability decline has not ended. TOMO maintains bullish on a large scale, but the bears is stronger than the bulls recently. The decline is likely to continue. However, the current price is close to the lower rail of the yellow range where the bulls will increase. So this conclusion is drawn. We set the resistance level at 1.65, the upper rail of the yellow zone, and set the support level at 0.97.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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