The last week's trading action shows the downside test of a of a...

The last week's trading action shows the downside test of a of a 40-degree uptrend that began in September; last Friday's close of $0.029 sits exactly on this trendline:



Taking a slightly broader view, daily price action continues above the 20-day moving average, which currently sits at $0.025:



For the first time in 2019, September's trading action shows a cross and inversion in the EMA Ribbon; from January to August, the 55-EMA (red line) was always at the top of the ribbon. For the last two weeks however, the 55-EMA has become the bottom of the ribbon, while the 20-EMA (yellow line) is at the top:



To pull three sentences from Investopedia:

"When the ribbon contracts [mid August], that indicates the price has entered a consolidation or pullback phase.

When the ribbons cross [late August], that can indicate a potential trend change. Some traders may wait for all the ribbons to cross to confirm a price reversal, while others may only need to see a few of the MAs cross before taking action.

When the ribbon is expanding [September], that helps confirm a strengthening trend. For example, during a strong price rise, the MAs will fan out as the shorter MAs pull away from the longer-period MAs."