Cryptocurrencies

AION technical analysis

AION seen from the temporality of 1W we can see a structure of candles that has formed a rounded floor where the price action is maintaining the bullish impulse forming two HL as a signal of a close stronger bullish movement of continuation, we need the price to form us a third highest minimum and to maintain the support diagonally indicated by the red diagonal, if this scenario occurs we could see the price reach our first target profit located within the price range of 0.00001259 – 0.00001387.

AION seen from the temporality of 1D we can observe more closely the current movement of candles where we see how the buying pressure is increasing during the current movement that began in August where the price made a double floor as a sign of reversal of the trend, the price has to test us the area of supply, in that area the price should find strong resistance that makes the price fall, if we can overcome this range we could go for our next key area of the trend.

In conclusion, AION presents an excellent bullish scenario that could have a strong bullish movement in the short and medium term, we need the price to keep the support diagonally and form a third HL of confirmation, the purchase volume is present, if the price manages to exceed the area of supply located within the price range of 0.00001259 – 0.00001387, we could have a next move towards our second profit target located within the price range of 0.00002340 – 0.00002701 indicated within the above chart by the two horizontal black colors, therefore, I recommend to be very attentive to the action of the price in 1D and always remember to place your stop loss to avoid possible invalidations during the current move.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

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