Qwark Trend Reversal

Qwark has lost over 70% to the USD since the beginning of the May. Price has declined from $0.15, down to $0.04 where it finally seem to have found the support.

The support is confirmed by two descending channels, while QWARK/USD rejected both of them at the same time, bouncing off the lower trend-lines.

From this point onward, looks like Qwark could be starting to move higher, and either produce a corrective wave down or even completely reverse the trend. Price could reach the upper trendline of the descending channel or go higher towards $0.16 or $0.18 resistance areas.

At the same time, daily break and close below the $0.04 support should invalidate bullish outlook where the downtrend will continue.

 

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