Fusion Analysis – Failed descending triangle

Last day of the week starts for us with an analysis of the Fusion, so a crypto which is relatively new to the market. This instrument was introduced to traders this year and the beginning was typical. So we had a proper launch with fireworks and stuff and after that, a down trend, which wiped out almost all gains that happened on the first few days.

Current situation is optimistic though. The price created a descending triangle pattern (blue and orange) but failed to break the lower line of this pattern. The breakout to the downside was more probable but it did not happen, so we received a denied technical pattern, which promotes the movement in the opposite direction.

That is what is happening here. The price broke the upper line of the triangle and went higher. Today, at the end of the Asian session, Fusion is the best crypto on the market with 7% upswing. Technicals are pointing north and in the nearest future, we should see the continuation of this movement.