FREE CRYPTO INDEX ANALYSIS UPDATE
What are the chances for an uptrend - Yello, ladies and gentlemen !
Based on our previous CIX analysis, a bullish case was expected upon the break above the 257,000 resistance. The bearish scenario was expected upon the daily break and close below the 239,00 support.
The bearish scenario took place and the price fell to the 227,000 support. This is likely to be a critical demand area, a decision-making point for the medium-term price action. Because currently CIX is facing double Fibonacci support, and so far it has been respected.
As long as the daily close remains above 227,800 low printed today, the Crypto Index should be rising. One of the nearest key resistance is located at 256,00, which should be the next upside target. On the other hand, a daily break below the 227.800 will push the price even lower.
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