#AUCTION Technical Analysis in a Weekly TimeframeHello everyone, I’m Cryptorphic.
I’ve been sharing insightful charts and analysis for the past seven years.
Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.
Now, let’s dive into this chart analysis:
AUCTION is currently in a downtrend but is expected to soon break above the triangle and the 21 EMA resistance. This breakout is crucial, and once confirmed, we could see a rally up to $100.
Last October, when AUCTION broke above the resistance trendline, it made a parabolic move, gaining 6x-7x within a couple of months. A similar move can be expected once the breakout is confirmed.
In the event of a rejection, the support line at $10.85 is likely to hold the price.
Key levels:
- Crucial Point: A breakout above the triangle and the 21 EMA.
- Lower Support: $10.85.
- Target: $70-$100.
DYOR, NFA.
Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!
Thank you!
#PEACE