Crypto Analysis | KOIN Ready For A Breakout

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The $1+ target seems tangible now

Just 2 weeks ago I posted about KOIN and how price has the potential to go to a dollar soon. The chart back then looked like this:

The purple the orange trend lines and the ellipse indicated the resistances as well as the area to watch should they be overcome. Now the price has reached exactly these levels and is on the verge of a major breakout.

Before heading higher, I think we will see at least one more retest of the strengthening blue trend line. The most bullish scenario would have price retest the top boundary of the ascending channel in just the next few weeks:

The caveat is that development is currently rather slow atm. The DEX for the chain "KoinDx" has still not released and it could take several more weeks for that to happen. More could be happening with updates regarding the Splinterlands collaboration or the continuous effort to onboard "100k users in the next 6 months". But from a TA perspective this third major wave up to $1+ is all but guaranteed.

The more bearish scenario would have the blue line of support getting shifted downward, but I do not think that we would see a price decline and rather a sideways movement until more announcements/releases. This would ultimately also lead up to this third wave, but on a later time frame.

As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!

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