📈 MGO MobileGO / Dollar TA

Since Altcoin season is coming I thought I'd chart some the next days. Here is MobileGO at HitBTC Exchange which peaked in January.

The chart show a tremendous rise from $0.22 in November to the top in January at $2.20. A solid 10x in two months. It has since fallen almost completely back, to $0.24 in the low shadows.

The ZigZag tool is great to find the bottoms and tops, and easy the labeling of Elliot waves.

I have labeled the correction as an ABCDE type, and the E wave might already be filled with a sub abcde wave.
RSI show a bull divergence in yellow, indicating underlying strength. Bears are exhausted and a possible trend direction change from downtrend to uptrend may come.
The low volume is also typical of a forgotten crypto, and the small green bar a couple days ago tell me this can be start of a new rise. A first wave may reach the 0.382 fibonacci, which should be close to $1.

These are just my thoughts, not a trading advice.
If you have another view on this post your welcome to discuss and post your charts in the comments.
If you'd like my technical analysis on another coin, please ask in the comments.

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