#FXS HOLDING ITS NEW LOW AND IT'S AT ITS DEPTHS AT THAT! A NEW MAJOR SUPPORT BREWING
The new major support that has held FXS is now holding FXS highly with all the buying sentiment surrounding those depths. This zone is already considered to be oversold and this is where most buyers will take extreme volume of orders.
So how do we respond to it?
Taking into account the possibility of FXS establishing 1.52-1.74 as a new major support will be highly regarded as an area where every trader will accumulate. Once the establishment of this new major support is done, we can see a strong impulsive movement to test the previous major support it once held. This in turn, will create a massive respect of this low price and since it's considered to be undervalued. We can safely assume that many will see this as an opportunity to create massive waves of long positions. Right now, as the retest that happened at 2.38 was possible. We can definitely see another attempt to break this retest level for the opportunity of FXS to go back to the level where it once held its price.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
