WEEKLY MARKET ANALYSIS : AUDIO TOKENAudio is currently trading at $2.001 which is a support region that the price has been trading past 10 Days and yet to break it.
A Symmetric Triangle is formed on the Daily Chart which shows that the price can either move upward or downward.
However, if price closes below 2.001 today breaking the support level we might need to take a bearish position because we might see a continuous fall in price and this can fall to $1.487 which is the next support level.
In the event of Price rallying up from the current price level at $2.001. We might need to see price close at $2.251 above the last 3 candlesticks on the Daily Chart before we take a Bullish Position.
If price rallies and close above the $2.2 we might see a bullish momentum that can take the price to the next resistance level.
In the game of trading patients is essential. Waiting to see your plans and strategy play out before taking trades are key to consistent profit taking in the market.
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