[Trade Alert] Buying Opportunity For Coval - Beautiful Hammer Candlestick

Ok, in the world of trading, a beautiful hammer candlestick has formed on one specific cryptocurrency, namely, Coval. 

This is what a hammer looks like:

However, the best and most effective hammer is the one which is based on support. So lets have a look at the daily graph for Coval:

What we can tell is that we have a nice hammer where the price first fell but then found nice support and then went right up. The support is the black horizontal lime. So what we can expect next is that the price will try to move up and break the upper trendline and then charge even higher.

But before we make a decision, lets also have a look at the long term chart, namely the weekly chart:

The weekly chart is also looking good, it is actually forming a hammer here as well, so this could really be a turning point.

Finally, lets have a look at the volume. During the last 24 hours, the volume was 86 Bitcoin and that is a pretty good volume for a low market cap coin such as Coval. 

As you can tell the the market cap is only 3,5 million USD so a daily volume of 86 BTC or 219000 USD is pretty good I must say.

It can be traded on Bittrex over here: https://bittrex.com/Market/Index?MarketName=BTC-COVAL

If you want to learn more about the coin, this is their website: http://cov.al/. For me, this is a pure technical buy for a short term trade of 5-20 days.

Happy trading!