Remain neutral for now | 10 April 2018

Technical Observation

Since yesterday, the price swapped places with the three simple moving averages (14, 52, 152), and is still above the three. Unless the price clearly breaks below the larger SMA, 152, I expect a momentum to the upper side. Although this upward rally is highly anticipated, this crypto currency has been trading with a bearish momentum and chances of continuing to the lower side are very high. Thus, instead of going long immediately, I advice waiting for a confirmation that the price will continue upwards with a take profit at $503.00.

Trade Signal.

Remain neutral for now