The price has made a bullish breakout from a descending channel model and reached our initial target of $0.000014 – $0.000015 (PT) with a profit of +20%. The price has also broken the 200 SMA, signaling an upward trend. Now we are looking for the right entry point in the upward movement. A pullback to the support at $0.000010 is an attractive entry point with potential growth of +40–50% back to the resistance zone of $0.000014 – $0.000015.
The price is approaching resistance — this is a level at which it may pause its growth or reverse, at least temporarily. Resistance is often a level where the price has previously reversed, or a former support level that has been broken (a concept known as trend reversal). After breaking the resistance level, the price may move higher to the next resistance level. The price is currently neither overbought nor oversold, based on RSI-14 values (RSI > 30 and RSI < 70). Support and resistance levels:
Nearest support zone: $0.00001, then $0.000008
Nearest resistance zone: $0.000014, then $0.000015 $0.00002