The S.S. Lazio Fan Token has completed a one-year-long cup-and-handle pattern with a breakout at $8.15 resistance. Fans interested in entering the market can take advantage of this bullish breakout. Is it safe to purchase this token now? Key Points: The S.S. Lazio fan token price action is governed by a handle and cup pattern. High volume retest
CoinGape’s first article, Bullish Pattern: S.S. Lazio Fan Coin On Bull Ride To $14.8 appeared originally on CoinGape.
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Brian Bollinger The S.S. Lazio Fan Token has completed a one year-long cup-and-handle pattern with a breakout at $8.15 resistance. This bullish breakout presents an entry opportunity to interested fans. Is it safe to purchase this token now?advertisementKey points: The S.S. Lazio fan token price action is governed by a cup and handle pattern
A fake breakout scenario is possible if there are high volumes of retests
The S.S. Lazio Fan Token Coin’s 24-hour trading volume is $264.5 Million. This represents a 194% increase.
Source-TradingviewHowever, on November 15th, the S.S. Lazio Fan Token price gave a bullish breakout from this $8.15 barrier. This indicates that buyers are ready for trend control and they also have a long entry chance. Source-Tradingview The current coin price is $8.19 and the daily candle’s rejection of the long-wick shows that sellers are not giving up. Trending StoriesTraders interested in entering the market must wait for price sustainability to exceed $8.15. Technically, the potential target for this pattern is the same distance from the bottom support and the neckline, released at the breakout point. If the price sustains above $8.15, then the market should rise 81.3% to $14.8. This potential rally could encounter resistance at $11.28 before reaching its target. However, the S.S. Lazio Fan Token’s price may give a daily candle closing below $8.15 on weekends. This would invalidate the bullish thesis. Furthermore, since the breakout candle closing was near the wick rejection of many failed attempts, this breakout threatens to be fake.Technical IndicatorRSI: The daily RSI slope jumps above the neutral zone, indicating the market sentiment bolsters the bullish theory.advertisementEMAs: A positive alignment in crucial EMAs(20, 50, 100, and 200) reflects a strong uptrend.S.S. Lazio Fan Token intraday price levelsSpot price: $8.19
Volatility is high
Resistance level: $10 and $11.2
Support level: $8.15 and $6.6
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