Civic definitely found the support around $0.26 area where it has bounced off for at least four times now. The last bounce has been on the 17th of November, after which price broke above the descending channel and 200 Moving Average.
This wave up could be followed by another impulsive move north as it was the first time since 4th of October when CVC/USD managed to break and close above the channel and the moving average.
The price action does suggest that Civic is ready to revers to produce a new all-time high. The very strong resistance is at $0.83 area that corresponds with two Fibonacci retracement levels applied to the corrective waves after the descending channels breakout. However, there are few obstacles on the way such as first resistance at $0.4 and $0.6 areas.
The downside move could only continue if Civic will manage to close below the $0.25 support.
This wave up could be followed by another impulsive move north as it was the first time since 4th of October when CVC/USD managed to break and close above the channel and the moving average.
The price action does suggest that Civic is ready to revers to produce a new all-time high. The very strong resistance is at $0.83 area that corresponds with two Fibonacci retracement levels applied to the corrective waves after the descending channels breakout. However, there are few obstacles on the way such as first resistance at $0.4 and $0.6 areas.
The downside move could only continue if Civic will manage to close below the $0.25 support.
코멘트:
Back at the support, but expecting to rise
코멘트:
Support rejected, going higher
코멘트:
First resistance level reached, need to see if it breaks above
코멘트:
Resistance being rejected, need to break above to continue moving up
코멘트:
코멘트:
Civic broke above the first target
코멘트:
Civic at the support