If you are looking for a currency to invest in at the right time, read this post carefully to understand what you should do.....
Technical analysis and positive price signals:
1. Strong and clear support:
From the charts, we can see that the currency has reached a strong support level at around 0.0060. This level represents an important retracement point that shows buying power.
2. Strong price bounce:
There are clear signs of the price rebounding from the mentioned support level, indicating traders’ interest in this price and the presence of purchasing power that brings the price back up.
3. Resistance and expectations:
If the price continues to hold the support level, it is expected to target the next resistance level at 0.0070 or above, providing a good opportunity for investment and potential return.
4. Positive market momentum:
The demand indicator (61%) exceeds supply, which means that buying forces are strong. In addition, recent moves indicate that positive momentum is regaining.
5. Daily candle movement:
The last candles on the daily chart show positive volatility. The gradual rise indicates the possibility of a price rise in the coming period.
Conclusion:
With strong support and a strong price bounce, NOT looks like an ideal entry point. If you are considering investing, this opportunity could be worth checking out while keeping an eye on the market movements.