BORA Technical Analysis: Rising Wedge Fuels Recovery 

Key technical points:

Past Performance of BORA

BORA technical analysis shows a bullish reversal from the crucial support level of $0.25, resulting in a higher low formation. However, the uptrend struggles to form a higher high streak resulting in the formation of a resistance trendline of a rising wedge pattern. Furthermore, the recovery accounts for a price jump of 75% and breaks above $0.37 to challenge $0.50 sellers.

Source-Tradingview

BORA Technical Analysis 

Undermining the downtrend, BORA prices prepares for a bull run to surpass the $0.50 mark, but the trading volume grows. Today, the market price has inclined by 7.72%, reflecting the growth in underlying bullishness.

The Vortex indicator shows a bullish crossover of the VI lines representing an early trend reversal in the rising wedge pattern. Furthermore, the MACD and signal lines try to avoid a bearish crossover displaying a bullish intervention as the positive trend of histograms persists.

However, the falling trend of the K and D lines starting after the recent crossover reflects a bear cycle is ready to overtake. Hence, the technical indicators reflect a bullish trend prepared to break above the resistance trendline.

In short, the BORA technical analysis showcases a high possibility of resistance trendline breakout leading to the $0.50 breakout.

Upcoming Trend

If BORA buyers continue to maintain the pressure, the market value will shortly skyrocket above the $0.50 mark and reach the $0.60 mark. However, a bullish failure will lead to a retracement under $0.37.

Resistance Levels: $0.50 and $0.37

Support Levels: $0.37 and $0.25