Einsteinium Testing the Top of the Price Wedge
Despite the current bearish climate within the cryptosphere as a whole, EMC2 appears to finally be re-testing the top of the current price wedge, which has been a month and a half in development. Note that the current price level reflects both a previous level of support and before that, a level of resistance.
Just as with the price wedge of KCS that I pointed out last week, this could be a very good sign for EMC2 to break out of the top and have several days of 50% plus price movement in a positive direction. KCS ended up breaking out, presenting a good sell opportunity to holders before falling dramatically during this week's sell-off. However, KCS was already well inside the top-50 on CMC and was due for a massive correction anyway. EMC2 has languished outside the top 100 for quite some time now and should soon make movements to regain its previous level of relative market valuation.
With a current market cap of $171 million and an overall rank of 146th on CMC, this coin seems very undervalued to me. It has a thriving community, a solid team, a regularly updated and clearly defined roadmap, and (in my opinion) a worthy mission.
What do you think? Is this the last opportunity to buy in or add to current positions before it breaks free?