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Highlights:
For the past three weeks, Pundi X markets trend above the Medium-term 200 days moving average line. This indicates a sign of a possible bull-run.
NPXS/USD Market
Key levels:
Resistance levels: $0.0008, $0.001, $0.0012;
Support levels: $0.00055, $0.0005, $0.00045;
In late January, the market took a cross above the 200 days moving average line (in yellow). Ever since, the price has remained floating atop the yellow line. Though, the buying pressure is slowly rising. For NPXS, however, the Medium-term uptrend is signaled.
But before now, Pundi X witnessed an enormous fall in December 2018 from $0.0018 high to $0.0004 low, where the slow rise begins. It is currently trading at $0.0007 price level. The bullish confirmation is revealed on the 4 hours MACD, now oscillating at the positive area.
For the bull, the ongoing movement is targeted at $0.0008 resistance. There, a retracement is likely to make a bottom at $0.006 before the rally continues. If retracement failed, $0.001 and $0.0012 are the nearest resistance levels. The bear’s major wave is the $0.004 support. The Stochastics RSI is close to the overbought zone; the buyers might be exhausted.
NPXS/BTC Market
Pundi X has drastically loss about 400% since it was listed in June 2018, Binance Exchange. Dropping from 152 SAT to 10 SAT. Having said this, 2019 might be promising for the token if trading volume keeps increasing. The future will tell.
Looking at the divergence of the MACD, the signal seems negative moving downward despite breaking up on the 200 days moving average line (in yellow). The oscillator signal is common for a bearish move. It is too early to conclude that now because the incline still holds. Though, 22 SAT remains a strong resistance. A break-up will confirm the ongoing rally.
But if price bounces low, the bear would found a bottom at 16 SAT. As it appears on the Stochastic RSI, the buying momentum is losing control; a potential sell is signaled.
