After beginning a gradual upward movement in the second half of the month, EVAA broke out from an ascending parallel channel and accelerated its increase.
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While it has yet to close above the $6.90 horizontal area, a breakout is all but confirmed, and if it returns to it, the price is likely to prove it as support.
Because of the breakout from the channel, the upward movement is likely impulsive.
If the rally continues, the next resistances will be $8.95 and $10.90, created by the 1.27 and 1.61 external Fibonacci retracement resistance levels.
Momentum indicators are also bullish, and neither has generated any bearish divergence. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are increasing.
Neither has generated any bearish divergence, so the upward movement may continue, creating a bullish EVAA price prediction.
EVAA Price Prediction
EVAA’s wave count suggests the upward movement (green) will continue, adding to the positive price action.
According to the count, the EVAA price is in wave three of a five-wave upward movement (black) that began on Oct. 11.
Wave three has extended, and the EVAA price is currently in sub-wave three (black), which is usually the most rapid portion of the rally.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
