SHARE

On 12th of Semptember, HempCoin has formed the low, hitting 386 satoshis. Since then price has been steadily rising and broke above the downtrend trnedline as well as the 200 Moving Average at the same time.

This is the first indication of a potential trend reversal and price is likely to continue moving higher. At the same time THC/BTC has already approached the 23.6% Fibonacci retracement level, which is the first resistance.

In order for price to continue moving north, 610 satoshis level must be penetrated. The next resistance is seen at 38.2% Fibs, that is 750 satoshis. And finally, the key resistance is seen at 980 satoshis, which is 61.8% Fibs.

Break above the key resistance should confirm HempCoin trend reversal, and price could rise much higher. Keep in mind prior to bull run, strong correction might take place.