Tierion confirming the uptrend

Viktor Karapetjanc Crypto Post

Since May, Tierion was moving downwards and has lost nearly 60% to the USD. But on the 29th of May it has bounced off the 88.6% Fibonacci retracement level, that is $0.064. The following wave up resulted in a break above the downtrend trendline reaching the high at $0.088.

The correction down followed and TNT/USD this time found the support at 76.4% Fibonacci retracement level, that is $0.07. Throughout the past few days this support level has been rejected and if not broken, Tierion should start moving higher.

The resistance is seen at 50% Fibs, that is $0.125, which corresponds to the uptrend trendline resistance. But it is still important to watch the $0.064 support level, as the break and close below will invalidate bullish outlook.

Author

Viktor Karapetjanc

Crypto Post

Viktor is a Chief Editor, veteran currency trader. He started his trading career in 2001 when he began to study Forex and Binary options trading techniques. Not long after he became a trading systems engineer and algorithmic trading guru.

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