Technical Analysis - DERO
DERO/USD - 02/16/2020
As shown above, we will be updating the Technical Analysis Update from the 14th of January.
Since the last Update, DERO has followed it almost correctly. The idea was that it would get inside the range, then calm down and re-confirm the range lows as support again, then continue to the range highs.
Currently, we have broken the range highs today and are expecting a similar play like at the range lows.
Just as mentioned above, we have broken the range highs today, and for the beginning, we are looking to continue this breakout. Nevertheless, we will most likely have a point in time, where the price will re-test the area of a breakout.
Furthermore, speaking in favor of this impulse move and healthy break of resistance, we have the fact of a continually rising buy-volume, which is showing interest and influx of buyers at the local levels.
It would be stable and bullish for DERO to see a rise and continuation from here on. These lows from a month back mold are the absolute lows fo rah next years and start the journey to the new ATH.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!
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