RCN technical analysis

RCN seen from the temporality of 1W we can see how the price is in range zone with a prolonged trend since April with offer against the resistance located in the 605, the price has not achieved support this level so it has continued to fall with a small take profit around 500, in this perspective the price has to keep going down, the next support is located at 256, I have also placed a lower support based on the fibonacci tool and drawn the possible trajectory that could follow the price to continue going down, waiting for a pullback

About the author: luis garcia

Technical Market Analyst Crypto trader