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GateChain with ticker GTUSD came slightly lower, but we still see it trading in a higher degree wave »iv« correction that can resume the bullish trend for wave »v«. It can be actually finishing final subwave (c) of a three-wave (a)(b)(c) corrective decline, so keep an eye on strong support here at the former wave (iv) swing low and 38,2% Fibonacci retracement. If we get sharp rebound and impulsive rise back above channel resistance line near 20 bullish confirmation level, then we can easily expect further rally within final wave »v« of 5 this year, which can push the price even up to 35 – 40 target area.

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GTUSD Daily Chart

Basic Elliott wave impulsive bullish pattern shows that GateChain can be finishing wave 4 correction within an ongoing five-wave bullish cylce.

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