Who would have thought that PITBULL would be leading the recent altcoin rally?
From 30 at the start of the week, PIT soared to as high as 49 a few days ago.
To recall PIT had a heavy resistance zone of 42-45. This zone has been broken and invalidated by solid green candle in the daily chart. In the same chart, a bullish double bottom has formed, upside target is 53, which is the ultimate KDJ bounce back target from months ago, which by the way is still valid until this time.
On the otherhand, in the 4H timeframe, 43-45, has been turned into solid KDJ support. At this price zone, the 4H KDJ oscillator has detected FOMO volume.
Resistance is still far up, it's at 59-63. So to wrap it up, pit has so much upside potentials. For now the next target is 53, but do expect consolidation along 43-45.