POLY technical is slightly bullish. Its recent surge in price (40%) and sentiment was heavily driven by its listing on the bithumb exchange.
However, the 40% increase has been erased since the announcement, with price trends now pointing bullish on the three hours time frame.
price maintaining a strong support level at 0.00009081sats. A falling wedge has been spotted( for more details about falling wedge, check (https://ci.covesting.io/tradeidea/propyeth)
The stochastic RSI is fully oversold. AS SHOWN BELOW:
And lastly, THE ICHIMOKU CLOUD SET UP
The Ichimoku Cloud uses four metrics to determine if a trend exists; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T) and Kijun (K) cross, Lagging Span (Chikou), and Senkou Span (A & B).
The status of the current Cloud metrics on the three hours time frame with doubled settings is pointing straight at TK DISEQUILIBRIUM or C-CLAMP;suggesting that sideways trading with a pullback up to the Kijun at 0.00010929sats is more likely than downward continuation. A TK disequilibrium can continue indefinitely, but once confirmed, the first resistance target is the Kijun(which is always the 0.5fib RED).
price is far below the Cloud, Cloud is bearish, the TK cross bearish, and the Lagging span is below the cloud and under price. All these points at a price moving back up which the ichimoku is saying that price is very oversold.
Technicls suggests that price is fully oversold and calls for a pull back up anytime soon
SELL:0.00010701sats up to 0.00011000sats
STOP LOSS: 0.00008994sats
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.