Market & Ticker: Chromia – CHR/USDT
Date: 04/01/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
CHR reached the expected target area at 0,24 after having confirmed the bullish reversal anticipated in august
At current price holding above 0,18 updated tactical support level, we do expect a larger rise towards 0,3650 before 0,49. We recommend to wait a setback in green area around 0,22/0,21 to reinforce the exposure on CHR
Technical Key Elements:
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Auto similar move potential 0,24 – reached
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RSI indicator is in overbought area
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The Moving average are still acting as resistance on current level
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Fibonacci key support is adjusted at 0,18 while the Elliot wave shows upside potential towards and 0,3650
Trade Idea conclusion:
Buy - Conviction: High
• Target 2: 0,49
• Target 1: 0,3650
• Buy: add in dip area 0,21
• Stop: 0,18 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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