POWR Technical Analysis

As we can see in the chart, the price of POWR/BTC has been following a falling wedge pattern. The upper line of the wedge has acted as a resistance a number of times. The price is at the resistance line and if it breaks out supported by volume , an impulse could begin in the upward direction with targets as highlighted.

The key resistance point in the short term is the 0.236 fibonacci level and the 100-d EMA is also around the same price 0.0005311. If the price gets resistance from the upper line of the wedge, it can be seen moving inside the wedge again towards the support region.

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