Augur Is Under Pressure, Sellers Are Waiting

Augur has been struggling to produce some gains for investors and for the past few months has been trading within a wide range.

There are no signs of an upgrade, at least at this point and Augu still does look weak. Throughout this and last week Augur/USD has been trading below the 8/1 of the Gann Fan trendline, as well as accepting it as resistance. It was rejected multiple times confirming that buyers are not ready.

The downtrend continuation is more likely at this point but sellers would be more active one $17.5 level will be broken, which could trigger a stronger move down towards either previous low at $13.5, or 127.2% Fibonacci retracement level at $10.9.

At the same time Break above $20 will certainly add some strength to Augur and could even change the trend, making it far more attractive for buyers.

SHARE

LEAVE A REPLY

Please enter your comment!
Please enter your name here