2022-05-26 20:30:12

BORA Technical Analysis: Rising Wedge Fuels Recovery

BORA price finds a boom in buying pressure as the buyers step in at the $0.25 mark resulting in a 75% jump in the last fortnight. Key technical points: The BORA market value inflated by 7.72% in the last 24 hours Recovery after the sharp downfall forms a rising wedge The 24-hour trading volume of Bora is $125 Million, a hike of 100% Past Performance of BORA BORA technical analysis shows a bullish reversal from the crucial support level of $0.25, resulting in a higher low formation. However, the uptrend struggles to form a higher high streak resulting in the formation of a resistance trendline of a rising wedge pattern. Furthermore, the recovery accounts for a price jump of 75% and breaks above $0.37 to challenge $0.50 sellers. Source-Tradingview BORA Technical Analysis Undermining the downtrend, BORA prices prepares for a bull run to surpass the $0.50 mark, but the trading volume grows. Today, the market price has inclined by 7.72%, reflecting the growth in underlying bullishness. The Vortex indicator shows a bullish crossover of the VI lines representing an early trend reversal in the rising wedge pattern. Furthermore, the MACD and signal lines try to avoid a bearish crossover displaying a bullish intervention as the positive trend of histograms persists. However, the falling trend of the K and D lines starting after the recent crossover reflects a bear cycle is ready to overtake. Hence, the technical indicators reflect a bul...

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