Technical Analysis - DERO
DERO/USD - 01/14/2020
As shown above, we will be updating the Technical Analysis of DERO/USD from the 12th of December.
DERO, even a month later, has failed to break back inside the noted range. Yet, it is not making any new lower lows, which indicates a reasonable sign of strength and a bottoming process. Looking at the local structure below the range, we are seeing a round bottom structure, which might be leading into a reversal.
Just as we mentioned above, DERO is failing to get back into the previous range, yet showing quite some strong indications of doing it sooner than later. Should this break into the range happen, an experienced trader would either be buying the breakout or the re-test of the range low. Yet, I have to mention that the volume has dropped off significantly, and it should be something to consider and be careful about. Should this continue and should DERO not be able to break into the range again, an experienced trader would be careful of a bears re-test of the range lows as resistance.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!
The content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Upblock or any third party service provider to buy or sell any cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on). Trading and investing in cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrencies, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of offering will not guarantee a return on your investment. Since
Any opinions, news, research, analyses, prices, or additional information contained on this website is provided as general market commentary and does not constitute investment advice. Upblock will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed on this Site are owned by the respective writer and should never be considered as advice in any form.