Ultra and Polymath are extremely bullish

The market analysis of Ultra and Polymath show their current market structure. Here’s how Polymath and Ultra look on 27th November, 2021.

Ultra

Ultra is the first entertainment platform providing a variety of games industry services under a single roof, accessible through a single login.

Currently trading at $2.35880, Ultra is up by 11.4%. It started the day at $2.11934 levels. The coin tested the first support at $2.05898 level. The early intraday high was seen at $2.19716 levels. Ultra has been extremely bullish, the coin is seen making higher highs on the daily chart. It broke the first major resistance at $2.19789 levels. Testing the support level consequently, the coin made a bearish reversal and reached the intraday high of $2.33315 levels. On the hourly chart, Ultra is consolidating in a bearish flag pattern, in an event of dominance from the buyer’s side the coin is likely to make a bullish reversal.

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Market indicators:

Hourly RSI: The hourly RSI is at 6021 levels, indicating major price strength in the short run. The coin is slightly in the oversold region.

Fibonacci Retracement levels:

23.6%: $2.00256, 38.2%: $2.09537, 61.6%: $2.24540

Major support level: $2.01789

Major resistance level: $2.48824

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Conclusion:

On the upside the prices may soon move above $2.5000 level, further rally upwards will lead to the first major resistance level at $ 2.53785 level to come in force. On the downside, a fall back below the level of 23.6% FIB level will test the first support level at $1.8528 level, any further downtrend will lead to test second major support level at $1.830.

Polymath

Polymath provides technology to create, issue, and manage digital securities on the blockchain.

Currently trading at $0.8594 levels, Polymath is up by 10.19%. Here’s the market structure of Polymath:

Polymath started the day at $0.8260 levels. The market structure of Polymath currently is extremely bullish. Looking at the current momentum, Polymath’s strong buy zone ranges between $0.8000 and $0.8370 levels, contrary to its sell range between $0.8809 and $0.9200 levels. On the daily chart, the coin initially consolidated in a bullish flag pattern. It tested the first major support at $0.8091 levels and the second support at $0.8363 levels. The coin tested the first resistance at $0.8806 levels. The intraday high of the coin was seen at $0.9239 levels. In the smaller time frame, the coin was seen consolidating between $0.8776 and $0.9076. On the hourly chart, the coin was seen making a bullish reversal after reaching its intraday high. Currently, the edge seems to be with the sellers who are driving the prices.

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Market Indicators:

Hourly RSI: The hourly RSI is currently moving towards 50 levels, showing mild price strength in for short term. However, this is more likely to go down owing to pressure from buyer’s side.

Fibonacci Retracement levels:

23.6%: $0.7807, 38.2%: $0.8071, 61.6%: $0.8498

Major support level: $0.8284

Major resistance level: $0.8801

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Conclusion:

The first major resistance level sits at 78.6% FIB level, barring an extended crypto rally. If broad based crypto rally comes in play, the second major resistance level will be at $0.9188 level. A fall back through $0.8400 level will bring the major support level at $0.8284.

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