Getting A Closer Look At OXT's Supports- In this idea we'll cover supports that OXT currently has and how these can add to the bullish argument
Price Chart
- We continue to see what looks like a symmetrical triangle pattern , which, usually have a bullish outcome
- You'll also see an EMA indicator with lines showing 20/50/100/200(Lower EMA is usually above the others)
- I think of the EMA as the longer the time period of the EMA , the stronger the support. EX) 20 EMA < 200 EMA (200 EMA is stronger)
- Price has now shot above the 20 EMA so as long as we continue to see price above the EMA's good things are to come
- 50 EMA has got our backs in the past price action so hoping we have it's support as we near the end of the triangle
- Worse case scenario we return to $0.59 -> $0.53 -> $0.48 but we wouldn't want that to happen
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Would also like to know your thoughts! Remember this is not financial advice , however, it is an overview of what I am seeing in this coin's price action.
-Happy Trading,
MoneyGrind
