Radium has formed a strong bottom at $2.62 level. This level has been rejected throughout the past year, while price bounced off it at least four times. The most recent bounce occurred on the 31st of March, and price went from $2.62 up to $6.
However, the corrective wave down followed and found the support at $3.3, that is 78.6% Fibonacci retracement level, that is being rejected along with the 8/1 Gann Fan trendline. The timing for the buying opportunity seems to be very interesting as if price will stay above the support, the strong growth will be almost imminent.
There are two resistance levels to watch, first is $13.4 level, where RADS/USD formed the resistance back on 25th of January. The second, and key resistance, is at 78.6% Fibs, that is $17.75 level. If/when that target is reached, the value of the Radium will grow by 5 times, which could happen in the medium term.
To consider the downtrend scenario, price must break and close below the key support level, that is $2.62. Then the consolidation could take place and price could test $2 psychological support.
