Like all new tokens we see a strong upswing followed by a declining downward movement. (Also see $GRT recently). Even though we see a falling wedge on the hourly which suggests a bullish movement, the token is currently in discovery mode and exploring its actual value. I suggest to wait until it consolidates and finds support before taking any positions.
Trade active:
Seems there's a potential support area around the 1.15 - 1.19 price range.
Comment:
If the 1.16 support holds and we see consolidation, chances are that we see upwards price movement from this support area.
Trade closed: stop reached
