Energy Web Token + simple TA.
Hello again, I like to bring you something from DeFi.
Today, it will be EWT , actually rank 52.
It’s not yet listed at many exchanges with decent total supply.
EWT focuses on building core infrastructure and shared technology, speeding adoption of commercial solutions, and fostering a community of practice.
In 2019 EW launched the Energy Web Chain, the world’s first open-source, enterprise blockchain platform tailored to the energy sector. EW’s technology roadmap has since grown to include the Energy Web Decentralized Operating System (EW-DOS), a “blockchain-plus” suite of decentralized solutions.
Since EWT listed on KuCoin. we have yet no too much price action history. So let’s see, what could be find at 4H timeframe.
From the end of August, EWT created downtrend regression channel. Every test at the top of channel & MA50 was rejected.
Here isn’t displayed the whole chart history of EWT . Strong rally was done from 0.80 usd to 12 usd. There is for sure a much more space to fall down. That’s the reason, why my Fibo is reversed and I am staying neutral before something happen.
Energy token made few gaps. 8.26usd is filled, 11.64usd is above. From September 5, EWT started to create low highs and higher lows in symetrial triangle ( pink ) and target could be exactly around gap above at 11.64 usd. It’s also near my 382 Fibo level.
For start some uptrend, conditions in a next days are:
– hold around 786 Fibo
– upside breakout from the pink triangle
-get about 50MA (red) = also matching with the golden fibo area
That’s all. I will try to update.
*This is not a financial advice.