METAL MTL ----Not done yet!---
Updated
Hello all, hope you are all having a great day! Markets are starting to turn bullish, especially alt coins! Lots of alt coins have have started breaking out or have broken out from their accumulation levels.
MTL was one that has been in accumulation for many long months, and has finally broken out of its tight consolidation...
I see a bullish 20/50 day crossover on the daily which has confirmed an uptrend break! Also, all ichimoku resistances have been cleared (I did not add ichi to keep the chart less cluttered)...I am currently seeing two major hurdles for METAL..
72k sats which is the first target to take profit zone...horizontal resistance...
82k sats which will be the .618 FIB resistance. Still clear for much more room for growth, but we are looking at a 40% gain! from 59k sats. I got in at 52k sats so this is a short-mid term swing for me.
I hope I have helped you give a clearer picture. I will update the chart in case something else changes, or if targets can be moved up!
Thank you all,
Alfredo
MTL was one that has been in accumulation for many long months, and has finally broken out of its tight consolidation...
I see a bullish 20/50 day crossover on the daily which has confirmed an uptrend break! Also, all ichimoku resistances have been cleared (I did not add ichi to keep the chart less cluttered)...I am currently seeing two major hurdles for METAL..
72k sats which is the first target to take profit zone...horizontal resistance...
82k sats which will be the .618 FIB resistance. Still clear for much more room for growth, but we are looking at a 40% gain! from 59k sats. I got in at 52k sats so this is a short-mid term swing for me.
I hope I have helped you give a clearer picture. I will update the chart in case something else changes, or if targets can be moved up!
Thank you all,
Alfredo
Note
Bounced perfectly off support! The next break might get us to 70k sats! Safe entry: 49-52k sats
Note
Patience is needed with MTL. Do not put more than you can afford to lose!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.