AION Losing To The USD

AION has formed a double topp near $4 area and wend down breaking above the 200 Moving Average. Although currently it is facing the support, that is the level where previously 4/1 Gann Fan trendline has been rejected.

In order for the correction down to continue, close below $3.2 is required. In this case AION/USD should decline further, down to 88.6% Fibonacci retracement level, that is $2 area.

On the upside, if the $3.2 support will be rejected, followed by the $4.2 resistance breakout, the uptrend is likely to continue.



Please enter your comment!
Please enter your name here