Pundi X is very popular. And BTC is a little bit back on track. If btc manage to keep stable or rise towards 60K or even 70K. Alts are in for a nice Bull moment too.
PundiX made a token burn of /1000 where it seems to be recovered from. It went down from aroun 8$ to $2.10. And build up some heavy resistance points.
I made a little forecast. Pundi is currently retesting the 3.52 resistance. For the 4th time. If it fails again it will retest the 3.27 again.
This is a support that has been tested twice before and i believe it will hold for a 3th time.
I also think it will move along the up trend line. And it will break this resistance.
What will bring us to the 3.71 previous supp. now resistance. Which is also the 1st target. ( Blue text)
It probably will test the new support around 3.52.
And from there the first old support now resistance $4.125 will be tested and which will be our 2nd target.
From there the next fib sequence will be the 1.618 ( on $4.20 ) What will act as some resistance but will hopefully break and that brings us on the 4.45
And last target for this TA.
The Red line is a less bullish line. And also a trigger on which this TA will be totally invalid.
PundiX made a token burn of /1000 where it seems to be recovered from. It went down from aroun 8$ to $2.10. And build up some heavy resistance points.
I made a little forecast. Pundi is currently retesting the 3.52 resistance. For the 4th time. If it fails again it will retest the 3.27 again.
This is a support that has been tested twice before and i believe it will hold for a 3th time.
I also think it will move along the up trend line. And it will break this resistance.
What will bring us to the 3.71 previous supp. now resistance. Which is also the 1st target. ( Blue text)
It probably will test the new support around 3.52.
And from there the first old support now resistance $4.125 will be tested and which will be our 2nd target.
From there the next fib sequence will be the 1.618 ( on $4.20 ) What will act as some resistance but will hopefully break and that brings us on the 4.45
And last target for this TA.
The Red line is a less bullish line. And also a trigger on which this TA will be totally invalid.
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It hit the invalid box. BTC lost 1k. What resulted in a 13% drop in PundiX :(