AdToken VS Bitcoin Trying to Move Higher
|AdToken has found the bottom at 180 satoshi level, on the 30th of June. Since then price has established an uptrend, although with a very high volatility. On the 23th of July, price spiked up and went up by 460% in a matter of hours. ADT/BTC reached the 1068 satoshis high, followed by an immediate strong correction down.
ADT has found the support at 230 satoshis, which is the level of the downtrend trendline breakout point. The following move was a wave up, resulting in a break above the 50 Moving Average, and reaching 366 satoshis level.
The higher highs and higher lows pattern is still valid, therefore the uptrend is intact. It could be reasonable to expect further growth, although price has to break above the resent high first.
If 366 satoshis resistance level is broken, AdToken could jump up, potentially reaching the strong resistance area near 750 satoshis, which is the 61.8% Fibonacci retracement level.
But if daily closing price stays below the 366 satoshis level, AdToken could move lower, perhaps towards the previous low at 180 satoshis level and below.
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