WaltonChain has corrected down to 12k satoshis after hitting an all-time high at 38k satoshis. The correction down resulted in almost 70% loss against the Bitcoin where price rejected the uptrend trendline and RSI formed a bullish divergence.
Since April WTC/BTC has been slowly rising and reached 19k satoshi, while on a corrective wave down it found the support at the uptrend trendline yet again. At the same time the RSI continues to produce higher highs and higher lows, rejecting the uptrend trendline. Seems like WaltonChain is getting ready to move up and potentially could produce a double top near 38k satoshis area.
On a downside, daily break and close below 13.6k satoshis recent low, would invalidate bullish outlook and could extend the consolidation.
Since April WTC/BTC has been slowly rising and reached 19k satoshi, while on a corrective wave down it found the support at the uptrend trendline yet again. At the same time the RSI continues to produce higher highs and higher lows, rejecting the uptrend trendline. Seems like WaltonChain is getting ready to move up and potentially could produce a double top near 38k satoshis area.
On a downside, daily break and close below 13.6k satoshis recent low, would invalidate bullish outlook and could extend the consolidation.