by Lucas Bedwell on July 16th, 2018

TenX Pay Token (PAY) Analysis – Still one resistance left

Last piece of the day is the TenX Pay Token and it is another first timer here. Today, the price is 38% higher than yesterday and this is one of the best numbers today. Usually, when we do have an upswing like that, it should set the positive tone for the next few weeks.

In the past few weeks, PAY was doing great. We broke the mid-term down trendline (green) and came back above the red resistance on the 0.8 USD. The only obstacle, which is left for now is the long-term down trendline (black). We tried to break that resistance today but buyers failed and as for now, we do have a long head on the D1 candle. As long, as we stay below the black line, we cannot claim the absolute bullish victory.

Price closing the day above the down trendline will be a trigger to the major buy signal but for that, we still have to wait a bit.

By Lucas Bedwell

With 3 years of trading experience across Forex, stocks, and cryptocurrencies, Lucas Bedwell has honed his market insights. His close connection to financial markets allows him to craft compelling copy, offering readers valuable perspectives and analyses that reflect his deep understanding of trading dynamics.