Analysis of CVC/USDT
Surely a great opportunity to take around 0.1050/0.11 with resistance at 0.13 or 30% upwards and an ATH at 1 USDT/CVC we can see from a historical point of view the same scenario as in 2021 before its rise over several weeks due to the last halving of BTC.
•The first breakout 5 weeks ago put the RSI back into good averages around 45 in Day and Monthly. In weekly it is currently 64, slightly too high, which implies that we will still have to wait one to two weeks for a reduction in this weekly RSI or even 3 weeks before we can reach this opportunity of “pump halving BTC” on this Altcoin.
This does not imply a drop in price, but a slightly hectic price.
•The trend has been on the rise for several weeks already, with an exceptional month of October
•Purchase volumes outperform sales volumes, many are entering the market while others keep their crypto warm, a good sign
•The ichimoku clouds should soon reverse, the “green” cloud should surpass the red cloud, which signals an increasing average demand relative to sales.
Of course, the analysis of other indicators such as moving averages and Fibonacci retracement are required and not displayed on this graph for better visibility.
This is not investment advice, simply a personal analysis that might advise the like-minded.
History repeats itself at every halving since the creation of Bitcoin, why this time would it change when the indicators are green and especially when public opinion is becoming more and more favorable to the adoption of cryptocurrencies?
Have a great day!
