Little to no history on this DeFi project. However for such a small market capital there’s a surprising amount of volume changing hands.
Facts on the technical:
1) Following a 70% correction in price action, RSI was oversold (orange columns) and has now broken trend line resistance.
2) Regular bullish divergence. Falling price action diverges with rising MFI = bullish. The Divergence is also noticeable on the Bitcoin chart pair.
3) Price action is below all the major moving averages, excellent. Always buy low.
Buy low sell high, right now price action has collapsed 70% with the alt-coin market correction. The lack of history means risk is greater, so I’d not expose more than 1-2% of my portfolio.
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Divergence is confirmed. On the daily this is what a perfect buying opportunity looks like. Oversold oscillators and rising price action. Probability of a good return following the oversold area (orange column) is now very high.
Now the difficult part, waiting for the overbought green column. Patience!
Trade active
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higher low -
Trade active
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Looking a lot better now, Stochastic RSI sharply crossing up 20 following the oversold condition (orange).
Set your SL's in profit guys. Low volume on the daily doesn't match pump. Still watching low levels previously mentioned, though we could hit mid 50's before a correction.
without_worries
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@TG99, Good observation - happy to stay long myself, price action can fall to 20 cents, that's okay - higher lows continue to be printed, meaning we're in an uptrend - will study again after $1,
TG99
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@without_worries, If we close above 0.55c and continue to rally higher, $1+ is definitely possible before what I predict will be a violent dump. The 27th also will be interesting, Okex traders finally can withdraw--may be problematic. Lets wait and see...
without_worries
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@TG99, Also use Okex, have no intention of taking cash out unless it is not for trading. I don't know why folks continue to leave assets on an exchange! (unless stored in a cold wallet).
Stochastic RSI just crossed up 80 on the daily suggesting a lot more momentum is to come. Remember tops of markets can be very generous often lasting weeks before a reversal of trend.
TG99
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Maybe too soon. I'm watching 0.09. potential rough dip ahead before flying high! 🚀
without_worries
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@TG99, Indeed - and a lack of history. Hence only a nibble.
TG99
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@without_worries, One way to be sure (incase it fails to reach that target), dollar cost average each cent it drops until take off, then big smiles for you :) 🚀🚀🚀