Gifto 170% Upside Potential

After forming an all-time high at $1 psychological round number, Gifto corrected down by 85% where it found the support at $0.15 and formed a double bottom. Following strong wave upwards resulted in a 350% growth but the uptrend was stopped precisely at the 61.8% Fibonacci retracement level, that is $0.7.

Price went back, almost towards previous support and found the bottom this time at Today GTO/USD $0.19, where the bullish divergence was formed on the RSI oscillator. The following wave up resulted in a break above the descending channel, suggesting the potential reversal to the upside.

The next wave up could send price back to the previous resistance at $0.7 area, that is 170% growth potential. On a downside, only break and close below $0.15 support could invalidate bullish outlook.

SHARE

LEAVE A REPLY

Please enter your comment!
Please enter your name here