Patientory Emerging Uptrend

Patientory started to show signs of life after it went down from $0.6 to $0.12, where it finally found the support after losing 75% to USD. Following the bounce of the $0.12 support it went higher and broke above the downtrend trendline, and on the 30th of November, it bounced off the uptrend trendline.

While printing higher highs and higher lows, clearly there is a sign of the potentially emerging uptrend on PTOY/USD. Today Patientory managed to close above the 200 Moving Average, which is yet another confirmation of its’ strength against the USD.

The upside target is seen at $0.47, which is inline with two Fibonacci retracement levels. First is 427.2% applied to the corrective wave after the downtrend trendline, while second is 76.4%, applied through the all-time high at $0.6. Currently, it is trading at the $0.2 support and could be rising from there. Only a break and close below the major support at $10 psychological level would invalidate this outlook.

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