$LMWR is looking incredibly strong at this point and is shaping up for what could be a significant move higher.
Let’s break it down:
Bounce from a Critical Zone: The price is currently bouncing from the 0.5 Fibonacci retracement, which is perfectly aligned with the 20 SMA. This confluence often acts as a launchpad for further upside, especially in trending markets.
Bullish Divergence on the MACD: Momentum is shifting in favor of the bulls, as seen in the clear bullish divergence on the MACD. This is a strong signal that the current consolidation phase could lead to explosive upward movement.
Higher Highs and Higher Lows: The structure remains extremely bullish, with the market consistently printing higher highs and higher lows. This confirms the trend is intact and gaining strength.
Golden Zone Support Below: While the current level looks strong, if we do see a retracement, the golden zone (0.618-0.65 Fibonacci levels) and the 50 SMA provide an incredibly strong safety net for continued bullish momentum.
My near term targets based on the Fibonacci retracement from April high to November low:
• $0.63 (198% gain)
• $0.83 (260% gain)
• $1.48 (455% gain)
LMWR is ticking all the boxes for a strong recovery play with significant upside potential and recent @RevolutApp partnership (45M+ users) and File sharing announcement with @BNBCHAIN , the fundamentals are there too.