DPOS5 Index indicating a 50%+ move for delegated-POS coins

[dragononcrypto]

All Indexes: DeFi | Polkadot | NFT | DPOS

While having a look through indexes today, this one stuck out as the best performer at +8% while others DeFi, NFT and DOT (see links below) remain relatively flat, despite the ongoing exuberant NFT speculation in a few projects.

There appears to be a clear-cut bullish inverse head & shoulders confirming a target of +50% from the 0.382 retracement level to the resistance level close to 0.786 . It's also very strange to see such patterns in an index like this, as well as confluence of resistance levels and fib retracements, given it's a mix of new and old projects from recent leader Luna to the rekt Eos project (-97%) as well as heavily oversold Icon shitcoin (still down 96%). I'd imagine it'll be the "rekt coins" performing well leading upto the Ethereum hash wars that are due to take place next month, as speculators run out of sectors to trade.



The 200 Day MA continues to decline in bearish formation, hence selling pressure at current levels on this Index, but otherwise closing another day above this key MA will be an important first step towards higher highs. I also think there's a good chance the Index only returns to the 0.618 retracement and horizontal resistance level, given the current weakness of the longer term trend. On a brighter note, the Weekly RSI has left oversold and bearish territory, which leaves a lot of room to move higher.

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(BINANCE:LUNABTC+BINANCE:EOSBTC+BINANCE:TRXBTC+BINANCE:XTZBTC+KRAKEN:ICXXBT)/5

[dragononcrypto]

DPOS10 Index

Unlike the DPOS5 Index, the DPOS10 isn't looking as strong, instead failing to breakout of it's inverse head & shoulders. While the target would be +54% to new ATH, the Index is struggling to stay above the VPVR point of control, while bouncing from the 50 Day MA with near perfection.



While there may a lower right shoulder still to form, moving back above the 0.5 fib retracement would show strength while the RSI & MACD remain relatively neutral.

[dragononcrypto]

Just noticed this setup worked quite nicely! +46%, coming close to the target. Looks like it's getting rejected at the 0.618 retracement however:



Will update other Indexes in due course, as some look quite interesting right now