Market & Ticker: Chromia – CHR/USDT
Date: 14/02/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
CHR surpassed target at 0,3650 after having confirmed the bullish reversal anticipated in august.
At current price holding above 0,27 updated tactical support level, we are monitoring the last push of the upside trend engaged in 2023 towards a maximum potential identified at 0,49/0,52 the strategic resistance / target.
Warning: we advise reducing TOTALY the exposure in the 0,49/0,52 area.
Technical Key Elements:
- RSI indicator is in overbought area
- The Moving average are still acting as support
- Fibonacci key support is adjusted at 0,27 while the Elliot wave shows upside potential towards 0,49
Trade Idea conclusion: Buy - Conviction: Medium
• Target 2: 0,52
• Target 1: 0,49
• Buy: add in dip area 0,37
• Stop: 0,27(Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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