Base on our previous idea, Aeon broke the resistance which confirms the bullish intentions of this coin. 227.2% Fibonacci retracement level ($3.15), which was applied to the corrective wave after the downtrend trendline breakout, show that it did act as a resistance and was rejected two times.
But on the 26th of November, this resistance was broken and AEON/USD continued to rise. Now the resistance becomes a support. First is $3.15, second $2.8. It is possible Aeon will get back to re-test one of these levels but it should only provide a more attractive price for investors.
The strong upside resistance which could be considered as an upside target is $4.75, which is inline with two Fibonacci retracement levels, 161.8% and 427.2%. At this point, a reversal down is very unlikely and only in the event of price closing below the 200 Moving Average, the trend could be changed.
But on the 26th of November, this resistance was broken and AEON/USD continued to rise. Now the resistance becomes a support. First is $3.15, second $2.8. It is possible Aeon will get back to re-test one of these levels but it should only provide a more attractive price for investors.
The strong upside resistance which could be considered as an upside target is $4.75, which is inline with two Fibonacci retracement levels, 161.8% and 427.2%. At this point, a reversal down is very unlikely and only in the event of price closing below the 200 Moving Average, the trend could be changed.
Commentaire:
Almost reached the target
Trade fermée: cible de profit atteinte