After an extended correction down, Einsteinium tested the low at $0.18. Suddenly the EMC2/USD had a substantial increase in trading volume resulting in the break above the trendline as well as the 200 Moving Average while reaching $0.4.
The current wave down stopped precisely at the 61.8% and Einsteinium continues to trade near that support. Heavy increase in volume could be the clue that investors are picking up EMC2 and this tendency could continue if either of two Fib supports will hold. If this will be the case, the price is likely to increase towards one of the previous resistance levels, $0.52 or $0.66.
On a downside, break below $0.23 support could extend the consolidation and send price back to $0.18 or perhaps slightly lower.
The current wave down stopped precisely at the 61.8% and Einsteinium continues to trade near that support. Heavy increase in volume could be the clue that investors are picking up EMC2 and this tendency could continue if either of two Fib supports will hold. If this will be the case, the price is likely to increase towards one of the previous resistance levels, $0.52 or $0.66.
On a downside, break below $0.23 support could extend the consolidation and send price back to $0.18 or perhaps slightly lower.