WEMIX (WEMIXUSD) broke yet above another Resistance (2.7675) yesterday as well as the 0.5 Fibonacci retracement level. It is about to complete a +160% rise from the previous Low, which is the % range that the previous two bullish legs have registered before pulling back since the August 17 low. The next Resistance level is at 4.700 almost exactly on the 0.618...
Wemix / WEMIXUSD is having the strongest 1week candle since September 18th when it crossed over the 1week MA50 and turned it to Support (closed all candles over it).
It has already hit the 0.5 Fibonacci level of the Bear Cycle while crossing over the Falling Resistance, the final Resistance.
This puts the crypto into the new Bull Cycle without any doubts and the...
WEMIX is close to a 1day Golden Cross and naturally this draws some comparisons with the last 1day Golden Cross on March 7th.
The price turned bearish when it closed under the 0.382 Fibonacci level.
The current 0.382 Fib is around 0.9400, if crossed then sell and target the 1day MA50 at 0.85000.
If the 0.236 Fib breaks first (1.07350), then target 1.32000...
WEMIXUSD had the biggest 1W bullish candle last week in 2023 turning the 1W technical outlook bullish (RSI = 59.545, MACD = -0.041, ADX = 41.950) and the 1D RSI extremely overbought. A lot of traders will understandably rush to buy on this level especially since the price crossed over the 1W MA50, but that is not confirmed bullish region yet.
You can see that the...
WEMIXUSD has been on an incredible 1 week rally and is near hitting Resistance B. The previous High of Wemix's +168.38% rally stopped after filling the gap on Resistance A and pulled back to Fibonacci 0.618. As the 1day RSI is bull flagging, we expect Resistance B to be fully tested on another approximate +168% rise.
Until the pattern breaks, we will be buying...
