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HomeLitecoinConcord (ONE) stories an in depth rebound – Will the uptrend final?

Concord (ONE) stories an in depth rebound – Will the uptrend final?

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Concord (ONE) had suffered a significant sell-off initially of April. The coin the truth is hit the bottom degree because the tail finish of February and was wanting bearish. However thus far, it looks like the token is rebounding. How lengthy can this uptrend final? Study extra under however first, listed here are key takeaways from the article:

  • Concord has managed to keep up sturdy help at $0.1130 in current weeks.

  • The coin has surged by 6% within the final 24 hours albeit it stays 10% down for the week.

  • The rally over the previous few days appears unlikely to final that lengthy.

Information Supply: Tradingview 

Concord (ONE) – Why the current uptrend will fade?

There’s a very large distinction between a rebound and a pattern reversal. When cash undergo a sustained bearish interval, they’re more likely to rebound barely however total, the bearish situations nonetheless stay. That is the precise case with Concord (ONE). 

Though the coin has posted some first rate features in the previous few days, we don’t count on the medium-term bearish pattern to reverse. In truth, ONE nonetheless stays effectively under its 25- and 50-day SMAs. Apart from, a have a look at the chart exhibits that coin has shaped an inverted cup and deal with sample. 

These two indicators recommend {that a} bearish pattern continues to be anticipated. Maybe the excellent news for ONE traders is the truth that the coin continues to be buying and selling above the essential help zone of $0.113. But when this value is breached, extra losses will comply with.

Learn how to play the Concord (ONE) setup?

There’s a large draw back threat with Concord proper now. The perfect factor to do as an investor is to observe the value motion this week. If bulls handle to keep up the $0.11 help, then you should purchase and exit at 20% features max. 

The potential upside for ONE stays considerably low. But when the help is breached, give it one other week to consolidate before you purchase.

https://coinjournal.internet/information/harmony-one-reports-an-extensive-rebound-will-the-uptrend-last/



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