Ionomy price action does suggest that it should rise and it could be a substantial growth. First is the triangle pattern breakout that happened on the 28th of October, after which price went back to test the support at $1 area. The $1 psychological support was rejected and also the uptrend trendline was rejected, while ION/USD started to rise once again producing higher highs and higher lows.
While moving up, price broke above the 200 Moving Average where it found the support after breaking above. Today ION/USD made a new high as well as broke above the descending channel signaling on the uptrend continuation.
The nearest resistance appears to be at 61.8% Fibonacci retracement level located at $2, while the more important resistance and the potential upside target is at $3. This is not only a physiological round number but also the all-time high of the Ionomy. If the price would reach $3, it would double the current price $1.5. Only break and daily close below the $1 support could invalidate this outlook.
While moving up, price broke above the 200 Moving Average where it found the support after breaking above. Today ION/USD made a new high as well as broke above the descending channel signaling on the uptrend continuation.
The nearest resistance appears to be at 61.8% Fibonacci retracement level located at $2, while the more important resistance and the potential upside target is at $3. This is not only a physiological round number but also the all-time high of the Ionomy. If the price would reach $3, it would double the current price $1.5. Only break and daily close below the $1 support could invalidate this outlook.
Commentaire:
First target reached
Commentaire:
Looking strong, trend is likely to continue
Commentaire:
It has started
Commentaire:
Ion reached first resistance, and rejected it, trend should continue if breaks above
Commentaire:
It actually could and should go much higher potentially x10 times
Trade fermée: cible de profit atteinte:
First resistance still holding, so could go lower
Commentaire:
Final target reached
Trade fermée: cible de profit atteinte:
ION broke above the resistance, will have to go higher
Transaction en cours
Trade fermée: cible de profit atteinte:
Closed at the final target