ðĨ ONE Very Weak: Bearish Triangle
ONE has been one of the weaker big caps of the recent weeks. Where many alts are still trading far above their January fear-lows, ONE is just a couple of percent away from making a new low.
The triangle's support has managed to hold a couple of times, but as long as BTC is not seeing any significant bullish price action I don't see ONE making another rally towards the top of the pattern. Most likely scenario would be for ONE to make a bearish break out in the coming week or so.
A bearish break out would definitely be a bad omen for the other alts. Most of the time there's market leaders who signal a certain trend and price path. If ONE is such a leader, we can expect other alts to make new lows as well. Time will tell.
The triangle's support has managed to hold a couple of times, but as long as BTC is not seeing any significant bullish price action I don't see ONE making another rally towards the top of the pattern. Most likely scenario would be for ONE to make a bearish break out in the coming week or so.
A bearish break out would definitely be a bad omen for the other alts. Most of the time there's market leaders who signal a certain trend and price path. If ONE is such a leader, we can expect other alts to make new lows as well. Time will tell.
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