$AGLD$: Bullish 🐂

What happened: 20EMA crossed 50EMA on Jan. 13 and 100EMA on Jan. 29. Between this period, AGLD rose 22%. On Jan. 13, AGLD made a successful trendline breakout though it wasn’t able to continue the uptrend without interruption. On Jan. 18, it found support on the 50EMA before surging another 21% in the next five days.

What will happen: By closing above its previous peak [0.340 - 0.364] from Dec. 08, 2022, AGLD has effectively made a “higher-high” formation on the daily timeframe, which means I expect AGLD to continue higher in the coming months. The current price has yet to touch the 200EMA and 50EMA is approaching 100EMA very soon, indicating there are more upsides before a pullback to the ascending trendline. Since this week’s macro factors will significantly impact the outlook of the entire crypto market in the next month, I’ll take advantage of the volatility to get in cheaper.

The Medium-Term Play: 1-2 Months
3.56-to-1 PL Ratio.
Entry: 0.3219; Target: 0.4748; SL: 0.2790.

Daily Resistance Zones

1. 3.147 - 3.426
2. 3.610 - 3.900
3. 4.255 - 4.553

Daily Support Zones

1. 2.936 - 2.808
2. 2.619 - 2.449
3. 2.151 - 2.029

TA Methodologies:

1. Supply & Demand Theories
2. Price Momentum
3. Fibonacci Retracements & Extensions SR Zones
4. Trendline Breakout
5. RSI Movement Strengths