Market Cap:
$0.00
24h Vol:
$0.00
BTC:
$0.00
ETH:
$0.00
COV:
$0.00

NPXSETH

PAIR:NPXSETH (PUNDI X)

After reaching a high of 0.00002142sats,price retraced down. The following were spotted which probably brought price down to its current level:
 1- THE BEARISH REGULAR DIVERGENCE
 2- BEARISH ENGULFING CANDLE STICK PATTERN

Divergence occurs when an indicator trends in one direction and price trends in another direction. Specifically, an indicator will make lower highs while price makes higher peaks, or the indicator will make higher valleys even as price tumbles to new lows.
Divergence is a reliable trading signal, but it's not timely, meaning that price usually follows the direction of the indicator, but it make take months before it does.

 1- THE BEARISH REGULAR DIVERGENCE
Bearish divergence occurs when price makes a higher high but the indicator forms lower highs.
The two data streams diverge in direction. Price will eventually, usually, follow the indicator lower.
Price trend Upward forming higher peaks and Indicator should trend Lower peaks. If the price trend is up, then look for divergence among the peaks, not the valleys. When you spot divergence, recognize that the price trend may change.
This doesn't mean an immediate sale, but you should be ready to flee.AS SHOWN BELOW:

 2- BEARISH ENGULFING CANDLE STICK PATTERN
The bearish engulfing candlestick is one of the more popular and well known candlesticks. It works very well as a bearish reversal, performing that way 79% of the time.
Number of candle lines Two.
Price trend leading to the pattern is always Upward.
confirmation of this is to Look for a two candle pattern in an upward price trend. The first candle is green and the second is red.
The body of the red candle is taller and overlaps the candle of the green body. Shadows(or wicks) are unimportant. AS SHOWN BELOW:

CURRENT MOVE and a bullish move coming up

A strong support level has been maintained at 0.00001245sats(0.238fibonacci retracement level),price is expected to range between the green zone( between 0.5 and 0.238fibonacci retracement level before any move will take place.
AS SHOWN BELOW:

and lastly, THE BULLISH HIDDEN DIVERGENCE

The BULLISH HIDDEN DIVERGENCE:
Bullish hidden divergence occurs when price makes a higher low but the indicator forms lower lows. The two data streams diverge in direction. Price will eventually, usually, follow the indicator higher( or the the indicator and the price will reverse and move to the upside)
If the price trend is down, then look for divergence among the valleys, not the peaks. When you spot divergence, recognize that the price trend may change.
This doesn't mean an immediate buy, but consider taking a position soon, especially if you receive other confirming signals.
The stochastic RSI is fully oversold, which gives a signal that price might be changing direction soon to the upside.

Technicals suggests that the down trend is gradually coming to an end and getting ready for a bullish run.

VERDICT:

BUY: 0.00001547sats(ETH)

SELL: 0.00002428sats(ETH)

STOP LOSS: 0.00001085sats(ETH)

 

Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

$COV HODL