This type of consolidation on tokens like this always seems to be very positive for growth. Looking at the recent spikes in volume, we wouldn't be surprised if the target shown which looks far-fetched now is actually reached within less than 2 months. Either way this is more of a buy and hold trade so anyone who can't be patient should definitely avoid it.
We can also have a look at the volume profile which lets us know that price will just essentially start teleporting upwards if we were to reach the 8.50 area. The volume profile also warns us of an area of supply shown in red which may be able to temporarily drive prices into more consolidation but ultimately should be broken. That would be a potential area to place a partial take profit.
We can also have a look at the volume profile which lets us know that price will just essentially start teleporting upwards if we were to reach the 8.50 area. The volume profile also warns us of an area of supply shown in red which may be able to temporarily drive prices into more consolidation but ultimately should be broken. That would be a potential area to place a partial take profit.