Review of the Aunit coin
Dear readers,
The Aunit coin continues to show us a positive technical picture. While the most part of markets is taking a pause for holidays, the Aunit is active.
Technical analysis of the Aunit/USD pair
This cryptocurrency pair continues to surprise us, at least with its technical behavior. While someone thinks that technical analysis does not work in any market, or does not work for the market of cryptocurrencies, I hope you can earn money by using technical analysis on this coin.
After working out the double bottom around 0.0350, the rate went into the flat trend. At the moment, we can identify several levels to work with. The first level is the support 0.0200. Now support is far away, but we can buy small volumes here, just in anticipation of a strong and fast movement. All channels have support at the level 0.0200. If the next pullback gives the level 0.0200, the pair will remain within the channel. Otherwise, if there is a rollback, but it doesn’t touch the line, the correction will begin to stick to one of the resistance points. This option is one of the possible upward exits.
The second option is the upward trend from the current position. It will be triggered by the breakthrough of the resistance of the current flag, provided that the flag remains. A false break of resistance 0.0270 is also possible. Actually, this is how a breakthrough of resistance occurs, first the price tests it, then a breakthrough occurs and goes to the previous pattern, in our case, a flag. However, there are many goals here, each of the resistance lines can stop the trend. In this case, the nearest resistance is 0.0300, which is very close.
As for the current flag or test of the resistance 0.0270, the volume says that a breakthrough will not happen this time. Volumes have fallen, and most likely the breakthrough will be false, at least now. Perhaps the situation will change and the volume will grow, then a breakthrough will be more probable. So far, in my opinion, the best strategy is buying at 0.0200.
Cryptocurrency pair Aunit /BTC
As usual, the volumes are smaller here, however, you can work here and the situation is simple and straightforward. There is support 0.00000500 and support 0.00000670. The last event is a breakthrough of resistance 0.00000670 and the beginning of a new trend. The technical goal of the new movement is 0.00000850. If you look at volumes, volumes can start growing with this resistance. Therefore, if the situation continues or until it persists, then the probability of a trend towards 0.00000850 is quite high.
Given the low activity, it makes sense to enter with pending orders and open the part of positions at the support based at 0.00000700, and open another part at the support 0.00000500. If there is a rollback to the support 0.00000670 and the situation with the volumes persists or gets worse, then the breakthrough of the resistance may turn out to be false. Based on the last thought, the number of Buy orders around 0.00000700 should be several times smaller than purchases at 0.00000500.
So, the pair continues to show a good technical picture.
I wish all of you successfull trading.
