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by Seth Parker on July 2nd, 2018

Emercoin Analysis – Escape from the tight range

Another gainer on Monday is Emercoin, where currently, the price is around 5% higher than yesterday. From those three Monday setups, this one is actually the best as we have three bullish factors here and no bearish ones.

First positive sign is the price breaking the log-term down trendline (red). That happened in the beginning of the June but is obviously still actual. Second factor is the breakout of the black mid-term down trendline. That actually happened in the end on June and makes the previous breakout stronger and more significant. The third factor is the escape from the tight range (yellow rectangle) present here since the end of May.

Emercoin Chart

As You can see, we do have a bullish momentum here and there should be no surprise that we do have 4 green days in a row. That can be actually just a beginning as we do not have any significant resistances ahead. The buy signal is on as long as we stay above the support on 2 USD (green).

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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