$XYO Technical Analysis for Weekend of May 1-2, 2021 (05/01/21)

By JCRoemer | JCR's Crypto Musings | 1 May 2021


$XYO finds itself in a descending wedge facing an impending breakout. Meanwhile, and quite importantly, it's formed the beginning of a W across the 50EMA towards the natural close of the pennant. Price action in coming sessions will confirm a continuation of the bull market with rising prices, while a drop below 16 could cause price to seek support in the 10-14 range. A breakout above the pennant will be confirmed with new lows above 20. Look for confirmation of the W in the box before considering an entry on this move. By entry, I'm also referring to those looking for an opportune time to convert their COIN in COIN app to XYO. (Not financial advice)

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JCRoemer
JCRoemer

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JCR's Crypto Musings
JCR's Crypto Musings

A collections of thoughts, ideas, and analysis of various crypto projects. Opinions are my own. Not financial advice.

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