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by Seth Parker on July 11th, 2018

Power Ledger (POWR) Analysis – Bullish flag brings optimism

On Wednesday, we have three coins that had never been analysed on this site. The first one is the Power Ledger, which is having a great session today so far and we may be seeing a start of a bigger bullish reversal.

POWR is trading very technically. Since the beginning of the May, we saw a bigger drop, which was restricted by the black down trendline. That line was broken at the end of June, which was a first step to the positive sentiment. Currently, the price tries to break the upper line of the flag (orange line), which would be very positive.

Power Ledger Chart

Why should we trust that pattern?

Most recently, POWR is respecting formations with a great accuracy. Previously, we had two wedges (blue and red) and both of them resulted with a textbook drop. The price closing a day above the orange area will be a nice signal, so stay sharp!

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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