LBRY Credits Uptrend Continuation

Following the previous idea on LBRY Credits, price has reached the upside target, that is $0.3 resistance at 38.2% Fibonacci retracement. Not only it has reached the resistance but it broke above it, suggesting continuation of the uptrend.

The next upside target is seen at $0.64, that corresponds to the 127.2% Fibonacci retracement level as well as the crossing between the uptrend trendline and the 8/1 Gann Fan trendline. This means that the over 100% growth could be expected in a relatively short period of time.

On a downside the support is based at previuos resistance level, that is $0.3 area. In the worst case scenario LBC/USD could get back to $0.15 form a double bottom, but it doesn’t seem like the downtrend is valid, and chanced of growth are much higher than the downtrend continuation.

Source: http://cryptopost.com/lbry-credits-uptrend-continuation/
Telegram channel: https://t.me/cryptopost