Review of the Aunit coin
Dear readers,
There are interesting events around the Aunit coin. Before turning to technical analysis, let’s consider some news.
In my opinion, the most important news is that the company has started paying out the bounty. Well, it is the negative factor for the coin and the market dropped. On the other hand, it is a good point to buy coins at prices, to which it is not supposed to return. Pressure of the bounty campaigners did not allow the double bottom to shape and the price did not go up, but what happened has happened.
The second news, which we’d like to recall is the conference of the corporation scheduled for December 8. Investors’ expectations are positive and rumors are that a new rally would commence. If you work on news, the best buy moment is now. On the one hand, we have the pressure of the bounty campaigners whereas on the other hand, we can get positive market reaction to the conference.
Technical analysis of the Aunit/USD cryptocurrency pair
Let’s check the daily interval. In the previous review, we’ve described a double bottom figure. By this moment, it is evident that a double bottom has not been shaped. The current situation makes us forget about the double bottom at least in the form it was described, but the flat channel continues to be a working scenario. We can talk about the channel 0.0300–0.0430. We can even notice that this channel has consolidated. The channel is supported by the downward movement to 0.0200. The channel was broken for a short period of time and the price has been moving within its boundaries. So, the channel’s width is 130 points, whereas the movement has been recorded within 100 points. Most likely, it was supported thanks to a low price. The second interesting point is also in favor of channel: a correction to the support line of channel, resembling a false breakthrough and a double bottom.
Based on these considerations, we can conclude that the current channel should continue to be a working plan. In addition, now it gives a good Buy option. If there is a false breakthrough, the first goal will be the resistance of the channel 0.0430, then you should exit and work with a possible breakthrough of resistance.
The option with a downward movement is also possible: the pair may go to 0.0200 or 0.0177. Thus, the simplest entry tactic is to buy around 0.0300 and 0.0200.
Technical analysis of the Aunit/BTC cryptocurrency pair
As usual, trading volumes on this pair are modest. However, there is enough data to analyze the chart.
Currently, the situation on the currency pair is extremely simple: there is resistance 0.00000936 and support 0.00000500. There are no signs that the price is going to exit the channel. The pair is moving inside the channel. There is a rebound from support and the next goal is resistance of the channel. Trading tactics here is to buy the pair in the area of support and take profit around resistance 0.00000900.
I wish you successful trading and investing!
