CLAMS Technical Analysis for 12/07/2015 – Lots of Pivots

The CLAMS digital currency was in a major bear market until the end of November, when a surge of buying managed to reverse the persistent selling momentum. Since then, a number of very significant pivot zones have emerged on the charts. The 0.00155 area acted as resistance about three times during the middle of November. This level turned into support after November 29, as the market was unable to stay under this this area for very long.

CLAMS-technical-analysis-Dec7

As price has continued to trade back forth in December, the 0.002 level has proven itself to be major area of interest. This level was used as resistance on the 1st of December, and then three times as support, when price broke through higher on the 4th. Therefore, 0.002 is an established pivot zone now and is most definitely being watched by many market participants.

CLAMS-technical-analysis-Dec7-2

The ultimate resistance are can be found at 0.0025. This level has prevented price from breaking higher on six occasions now. A break above this monster resistance zone will most likely signal a bull market for CLAMS.

CLAMS-technical-analysis-Dec7-3

 

 

Disclaimer:  This is not trading/investment advice!

Chart source: https://poloniex.com/exchange#btc_clam

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