Introduction
Hello everyone! I hope you're doing well. In this article, we'll explore the recent developments surrounding NULS coin (NULS) and analyze its technical movements. We previously discussed how NULS broke out of both a long-term down channel and a significant ascending triangle. Let’s dive into the latest updates and what they mean for the coin's future.
Recent Breakouts: Down Channel and Ascending Triangle
As we look at the live weekly timeframe chart, we can see two significant breakouts for NULS coin. First, the price broke out of a substantial down channel. Following that, it also broke out of a larger ascending triangle. The technical target for this ascending triangle was approximately $1.15, which the price hit before getting stuck inside the down channel once again.
While moving within this channel, NULS tested the support of the triangle's uptrend line and subsequently broke out of the channel's resistance. This transition has created an exciting scenario for potential future movements.
Daily Timeframe: Analyzing Recent Movements
On the daily timeframe, we observe that NULS has been moving within a channel for the past several days. After the breakout from this channel, the price successfully surpassed the resistance level of 40 cents, which was previously acting as resistance in the ascending triangle.
Trade Signal: An 83% Pump
On August 21, 2024, I shared a trade signal for NULS with my members, which was based on a harmonic bullish Gartley pattern formed on a 2-hour timeframe chart against the US dollar. This trade signal led to a substantial reversal, producing an impressive 83% rally from the buying zone. If you want to catch similar trading opportunities before they happen, consider joining as a YouTube member or Patreon member.
Click here to visit this trade signal
Technical Targets and Future Projections
Now, let's take a look at the technical targets for NULS coin. The recent breakout from the down channel has not yet reached its target. The target for the breakout from this channel is set at $2. Meanwhile, the target for the breakout from the ascending triangle was reached at $1.15.
Interestingly, from the lowest point to the recent high, NULS has pumped nearly 688%, showcasing its strong bullish potential. However, there's still room for growth, and traders should keep an eye on the upcoming target of $12 for the breakout from the larger down channel.
Conclusion
In summary, NULS coin has shown significant bullish momentum with its recent breakouts from both the down channel and ascending triangle. The price action indicates that we could see further upside if it successfully tests and holds above these critical levels.
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