Kore VS Bitcoin Ascending Channel
Kore coin has found the bottom at 21k satoshis after which price started to move higher. Throughout the past 6 months, KORE/BTS has been trading withing the ascending channel and continues to rejected the uptrend trendline.
The most recent close above the 200 Moving Average suggest that the price is likely to start moving upwards, perhaps to produce a double top at the 38.2% Fibonacci retracement level, that is 87.7k satoshis.
However, if the uptrend trendline is penetrated, Kore coin could continue moving lower, towards 20k satoshis support area and even lower.
The most recent close above the 200 Moving Average suggest that the price is likely to start moving upwards, perhaps to produce a double top at the 38.2% Fibonacci retracement level, that is 87.7k satoshis.
However, if the uptrend trendline is penetrated, Kore coin could continue moving lower, towards 20k satoshis support area and even lower.
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