CUBE Somnium Space Cubes Upside Coming?
Hello friends, today you can review the technical analysis on the 4H linear scale chart for Somnium Space Cubes ( CUBEUSD ), an altcoin cryptocurrency.
#CryptoPickk noted in the chart:
1) The Somnium Space Cubes price has been in a Triangle Pattern since early November 2021. The price broken down from the Triangle during the recent crypto crash, but with a Double Bottom pattern, the price is making an attempting to get back into the triangle and move upwards.
2) There is also a Rising Broadening Wedge Pattern also noted with the red line forming within the triangle pattern.
3) Taking the Fibonacci Extension from the last high to the last low, the 1.618 level (Golden Ratio) is at $27-$28, which would be the estimated target price.
4) There are two checkpoint areas where a re-test may need to occur around the 0.5 Fib Level at $17.50-$18 and another one around the 0.786 Fib Level at $20-$20.25. Having a re-test of the triangle will help strengthen the price movement upwards.
5) The RSI ( relative strength index ) has a resistance trendline (in orange color) which it may need to break for a nice pump upwards.
6) The Volume is picking up but still low, so if a pump may be coming, keep an eye on the Volume.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
#CryptoPickk noted in the chart:
1) The Somnium Space Cubes price has been in a Triangle Pattern since early November 2021. The price broken down from the Triangle during the recent crypto crash, but with a Double Bottom pattern, the price is making an attempting to get back into the triangle and move upwards.
2) There is also a Rising Broadening Wedge Pattern also noted with the red line forming within the triangle pattern.
3) Taking the Fibonacci Extension from the last high to the last low, the 1.618 level (Golden Ratio) is at $27-$28, which would be the estimated target price.
4) There are two checkpoint areas where a re-test may need to occur around the 0.5 Fib Level at $17.50-$18 and another one around the 0.786 Fib Level at $20-$20.25. Having a re-test of the triangle will help strengthen the price movement upwards.
5) The RSI ( relative strength index ) has a resistance trendline (in orange color) which it may need to break for a nice pump upwards.
6) The Volume is picking up but still low, so if a pump may be coming, keep an eye on the Volume.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
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