Cloak has burst up through a key level of resistance at about 0.0004, reaching above 0.0005 in fact. That 0.0004 level will hopefully now provide quite solid support for next phase of consolidation, I’d have thought. (Not trying to tempt fate again). For good measure Cloak is also up through a trend line extending downward from the peak. Happy days.
Heres a look at the damage using mintpal data on log scale of Cloak priced in Bitcoin, courtesy of BitcoinWisdom website.
Aside from the fact that cloak looked incredibly oversold after that pump n dump crash rumours abound that the developers are close to releasing something significant. If rumours turn out to be true I’d be a little cautious. how does it go, buy rumour sell news or something.
Anyway nice to see recovery looking strong for now.