Having posted minor losses in the last drawdown, Toshi recovered well overnight after locating support nearby. Looking strong on the day, the next major direction is still dicey as it is yet to signal a fresh buy daily.
Since it faced rejection at the $0.001 level two weeks back, Toshi’s buying pressure dropped briefly and remained relatively calm over the past few days. Although it appeared to have found support again and is now looking slightly strong on the day following a minor gain overnight.
Adjusting to the 4-hours chart, it is forming a new bullish pattern in the form of a double-bottom. From the look of things, such a bullish pattern could trigger another major price movement in the next few days.
If that comes into play with a major surge in volatility, we can expect a quick rally to the yearly peak level of $0.0023, which has been the main bulls’ target since they stepped back into the market in April. A further surge from this level should skyrocket the price to a new yearly high.
Should the price roll over again, especially below the holding $0.00063 level, Toshi will likely post more losses before locating a new support. But as it stands, the price is up but has yet to signal a fresh buy daily.
TOSHI’s Key Levels To Watch
If the double-bottom pattern comes into play on the 4-hour chart, Toshi must break above the immediate $0.00099 resistance before considering a rally into the $0.00136 level. A push above the crucial yearly $0.0023 high should fuel a bigger surge in the future.
The latest recovery is supported by the $0.00063 level. If the price drops below it, the $0.00047 level is the next support to watch, followed by the monthly $0.00033 low.
Key Resistance Levels: $0.00099, $0.00136, $0.0023
Key Support Levels: $0.00063, $0.00047, $0.00033
- Spot Price: $0.00072
- Trend: Bullish
- Volatility: Moderate
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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