Technical Analysis:
The sideways movement and the Accumulation/Distribution shows it is clearly in an accumulation zone where interest and volume is rising. We can see that there are no strong divergences with the potential upside on the candles and the volume- therefore, it gives us a signal that this is a high volume/institutional BUY AREA.
It is approaching a strong resistance, thus it can flip to the downside which would present a good buying opportunity or if it breakouts we can treat this as a breakout-trade.
Fundamental Analysis:
Institutional interest in Artificial Intelligence is rising with Singularity perhaps being one of the strongest projects in the space as they have developed several Artificial Intelligence projects such as their trading algorithms, therefore when the AI Boom does come around which is soon, Singularity will be part of the wave.
Hit the LIKE/SHARE button and COMMENT to discuss and add to the idea!
See you soon, trade safe
-Megalodon Sharks
The sideways movement and the Accumulation/Distribution shows it is clearly in an accumulation zone where interest and volume is rising. We can see that there are no strong divergences with the potential upside on the candles and the volume- therefore, it gives us a signal that this is a high volume/institutional BUY AREA.
It is approaching a strong resistance, thus it can flip to the downside which would present a good buying opportunity or if it breakouts we can treat this as a breakout-trade.
Fundamental Analysis:
Institutional interest in Artificial Intelligence is rising with Singularity perhaps being one of the strongest projects in the space as they have developed several Artificial Intelligence projects such as their trading algorithms, therefore when the AI Boom does come around which is soon, Singularity will be part of the wave.
Hit the LIKE/SHARE button and COMMENT to discuss and add to the idea!
See you soon, trade safe
-Megalodon Sharks