Major confluence on daily timeframe
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Major confluence on daily timeframe
Finding support on two indicators
Obligatory: this is not financial advice and I am not a financial advisor.
EMA
Decred found support on the daily 20 and 50 EMA at $60. If this holds the next level of resistance is the 200 at $80.
Ichimoku
The tenkan and kijun also proved support at $60. Currently it’s consolidating right below the cloud. Piercing the cloud gives a strong potential to execute an end-to-end which would send it to the other side of the cloud around ~$80.
Conclusion
Decred finding support off the daily EMA's and cloud MA's. The next level of resistance on both is ~$80.
Major confluence on two reliable indicators on high time frames.
Now let's just hope stonks don't do us dirty.
Major confluence on daily timeframe
The trading volume is very low. Does that mean sellers are exhausted? Do you look into RSI also?