Since Altcoin season is coming I thought I'd chart some the next days. Here is MobileGO at HitBTC Exchange which peaked in January.
The chart show a tremendous rise from $0.22 in November to the top in January at $2.20. A solid 10x in two months. It has since fallen almost completely back, to $0.24 in the low shadows.
The ZigZag tool is great to find the bottoms and tops, and easy the labeling of Elliot waves.
I have labeled the correction as an ABCDE type, and the E wave might already be filled with a sub abcde wave.
RSI show a bull divergence in yellow, indicating underlying strength. Bears are exhausted and a possible trend direction change from downtrend to uptrend may come.
The low volume is also typical of a forgotten crypto, and the small green bar a couple days ago tell me this can be start of a new rise. A first wave may reach the 0.382 fibonacci, which should be close to $1.
These are just my thoughts, not a trading advice.
If you have another view on this post your welcome to discuss and post your charts in the comments.
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