Hi Traders!
Today we chose (a bit untraditionally) altcoin, which can be considered small against Bitcoin. It's this group of coins that are going through tough times this year because Bitcoin is growing faster than altcoins and thus increasing its dominance. In recent weeks, however, some coins have shown interesting patterns.
AION / BTC
Aion has been consolidating on its bottom for more than 163 days. Needless to say, this altcoin has also gone through an extreme downturn. It's possible that it has already reached its bottom. The graph shows an interesting structure.
1. Consolidation is sufficient
2. We made a break-up trend line
3. We are still creating higher minimums
These are three fundamental arguments that indicate a positive future development. Quite strong resistance in front of us can be considered negatively, as well as ever-lower maximums. However, such chart conditions have great potential in the long run.
The potential movement into resistance represents a possible appreciation of over 23%, so this trade would also be worth trying. Overall, however, we think that AION will test resistance in the coming weeks, which will eventually overcome.
May the crypto be with you!
Today we chose (a bit untraditionally) altcoin, which can be considered small against Bitcoin. It's this group of coins that are going through tough times this year because Bitcoin is growing faster than altcoins and thus increasing its dominance. In recent weeks, however, some coins have shown interesting patterns.
AION / BTC
Aion has been consolidating on its bottom for more than 163 days. Needless to say, this altcoin has also gone through an extreme downturn. It's possible that it has already reached its bottom. The graph shows an interesting structure.
1. Consolidation is sufficient
2. We made a break-up trend line
3. We are still creating higher minimums
These are three fundamental arguments that indicate a positive future development. Quite strong resistance in front of us can be considered negatively, as well as ever-lower maximums. However, such chart conditions have great potential in the long run.
The potential movement into resistance represents a possible appreciation of over 23%, so this trade would also be worth trying. Overall, however, we think that AION will test resistance in the coming weeks, which will eventually overcome.
May the crypto be with you!