Good day Hiveians!
Join me in analyzing the crypto markets!
KOIN seems to be in a great position to move higher
Two weeks ago I wondered whether the ABC correction was over. This was the outlook:
We got a very close confirmation of this scenario. And it seems that support is great enough to propel the price higher now.
KOIN looks especially strong today, as it is one of the only coins up
In the KOIN/ETH chart we can see a positive trend as well. But there is a bigger resistance coming up soon. I have to note here that the fractal in this chart could also indicate another bigger correction as seen in this chart. But this correction would basically only be a sideways movement as I would expect price to hold at the low of 0.00014
The overall outlook is very bullish. In the KOIN/USD chart here we can make out a widening channel in the weekly chart. This leaves massive upwards potential.
But it could very well be that it won't happen as fast as marked in this chart as I would expect the crypto market to top out in Spring/Summer of 2022. I am somewhat cautious here as the upper trend line would suggest a price increase to $20-60 potentially which seems way too high... But then again, this project is kind of revolutionary and could take the crypto industry by storm.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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