$COLLECT IS BUILDING AN ASCENDING CHANNEL!
After a massive collapse from $0.104 to around $0.0105, price has entered a long consolidation phase.
Right now, it is moving inside an Ascending Channel Pattern, forming higher lows while gradually moving upward.
Currently trading around $0.0235.
Important levels to watch:
Strong support: $0.020
Resistance zone: $0.028–$0.030
As long as the $0.020 support holds, bulls have a chance to push toward $0.030–$0.032.
How to trade inside this pattern?
You can also take advantage of the channel instead of waiting for a major breakout.
Look for long entries near the lower trendline, around $0.020–$0.022, after bullish confirmation.
Take partial profits near the middle of the channel.
Book more profits near the upper trendline around $0.028–$0.030.
Wait for price to pull back toward support before considering another entry.
My main focus is the $0.020 support. If it holds, the channel remains valid. A breakdown below the lower trendline could invalidate this setup.
After a massive collapse from $0.104 to around $0.0105, price has entered a long consolidation phase.
Right now, it is moving inside an Ascending Channel Pattern, forming higher lows while gradually moving upward.
Currently trading around $0.0235.
Important levels to watch:
Strong support: $0.020
Resistance zone: $0.028–$0.030
As long as the $0.020 support holds, bulls have a chance to push toward $0.030–$0.032.
How to trade inside this pattern?
You can also take advantage of the channel instead of waiting for a major breakout.
Look for long entries near the lower trendline, around $0.020–$0.022, after bullish confirmation.
Take partial profits near the middle of the channel.
Book more profits near the upper trendline around $0.028–$0.030.
Wait for price to pull back toward support before considering another entry.
My main focus is the $0.020 support. If it holds, the channel remains valid. A breakdown below the lower trendline could invalidate this setup.
