As you can see on the chart, the XNO price has broken through the lower edge of the blue wedge and is unsuccessfully trying to get back above it. I think we're in for another sizable drop to around ~$0.7 but that's no reason to panic. I also drew a white falling wedge on the chart. If I'm not mistaken, these will be the last dips after which the price should go up. I see it like this:
This is not financial advice.
- first a W pattern will be formed, which will at the same time draw an exit from the white wedge (by retesting it)
- then the price will return to the blue wedge piercing it on the way out
- on the way there is a big retest of the blue wedge
- and finally the rebound from it and the rise of the price to the area of 7 USD (if you look closely the whole movement will form an inverted Head and Shoulders pattern).
This is not financial advice.
