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Cryptocurrency
by Seth Parker on October 31, 2018

Pundi X Analysis – Beginnings are tough

First technical analysis of the day and we already start with something new! Pundi X is our hero today and we have to say that the start is not so good as probably creators were expecting.

This altcoin is relatively new and was introduced to the market few months ago so in this case, we missed the bubble part from the end of 2017. Despite that, we had a roller-coaster ride here too. Well, more of a slide part but still…When, the Pundi X was introduced, the price was quite high and we have to say that it was rejected by the market. Sellers took the control over and managed to create a proper down trend.

pundi x chart

Most recently, NPXS created two trend continuation patterns – flags (blue and black). First one resulted with a bearish breakout and we think that the second one will end in this style too. Today, the price is going down almost 8%, which can be an initiation of a new drop. The sell signal will be triggered, when the price will break the lower line of the flag and to be honest with you, that can happen soon.

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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