As can be seen, the big wedge has been formed since August 17th. Although the falling wedge is not very clear, I believe it still holds the property of a falling wedge. So, the price could break up from the upper line in the near future.
Also, the Bollinger Bands are narrow, which could be a signal for a breakout. The price faced pressure from the lower band of the BB. we can see the price tried to break the lower band three times within the wedge. That could be a signal but I do not base my analysis on that.
The volume remains low. Actually this is not a popular instrument, low volume is usual. But we could expect the volume to increases when a breakout happens.
The MACD lines are about to cross and make a bullish cross, also, the RSI is in an upward trend.
So, let’s expect the price to go up.
Also, the Bollinger Bands are narrow, which could be a signal for a breakout. The price faced pressure from the lower band of the BB. we can see the price tried to break the lower band three times within the wedge. That could be a signal but I do not base my analysis on that.
The volume remains low. Actually this is not a popular instrument, low volume is usual. But we could expect the volume to increases when a breakout happens.
The MACD lines are about to cross and make a bullish cross, also, the RSI is in an upward trend.
So, let’s expect the price to go up.