Hello dear traders and investors of TradingView community!
Having witnessed a remarkable surge in recent weeks, the price of SPACE ID (IDUSDT) embarked on an impressive rally, originating from the accumulation zone established between 0.44 and 0.50 during the initial weeks of April.
Surpassing all expectations, the price soared to reach the remarkable threshold of one dollar by the middle of the month.
Nevertheless, it subsequently encountered a modest setback, retracing to the 50% Fibonacci retracement level.
At present, the price is consolidating, characterized by a period of stability and range-bound trading, potentially paving the way for an anticipated breakout.
Market observers and investors are keenly monitoring the situation, anticipating a potential upward surge from the current level of 0.64 towards the projected target of 0.75.
What are your thoughts on this post? Give it a Boost 🚀 if you agree and leave a comment to share your perspective!
This looks more like "trading to get away once reached levels" than investment honestly. Consider my thoughts, this is so young story to be valued around 0.30$ stable :) nothing fancy about domains on web3..
Vestinda
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@pbal000, Whales? Not convinced. Looks more like the market trend at play here. Just take a look at BTC, it's been on a downward spiral for days, causing the entire altcoin market to suffer. Even the SPACE ID / IDUSDT coin is struggling. Price is approaching a previous support zone at 0.47 - 0.40, but with BTC's potential continued decline, IDUSDT might face a drawdown too. Stay cautious and be careful with your trades.
Moneyisjustanumber
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Whales are ruthless on this coin, bots are putting so strong sell pressure, Its really risk trade but i will try. Entry has been 0.56400$ and I sold 0.61$ with profit, now I jumped in on 0.57400 and will sell some tops. But, I am so tired intraday trading this token as pressure is insane to aim for the bottoms. (even I managed two good bottoms and 1 great peak)
300.000.000 supply of 2.000.000.000 max place this token around - 0.04$ real value price once distributed among the traders. I guess cold shower will surprise all speculators that "hold" 0.60$ - 0.80$ levels after that expected "pump" that is "expected to be around 0.90$"
Moneyisjustanumber
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Please can you update next moves? Is this 0.60$ solid and strong or will it break next 1-7 days down to 0.55?
Vestinda
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@pbal000, Based on our previous discussions, if the $0.60 level (corresponding to the 38% Fibonacci retracement) is broken, there is a possibility that the price could move lower towards the previous accumulation zone.
I would recommend revisiting the previous comments and idea description for a more detailed understanding.
It's always important to practice effective risk management when making investment decisions. Keep a close eye on the price movement and adjust your strategy accordingly.
Moneyisjustanumber
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This is still active? Please can you tell where is the support before reversing top?
Vestinda
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@pbal000, Hello! Thank you for your question. Yes, this is still an active situation. The price is currently seeking a rebound in the support zone, particularly around the Fibonacci level of 38%.
However, if this support level fails, there is a possibility of the price dipping down to the previous accumulation range, which was between 0.44 and 0.50 in early April.
Keep an eye on the price action and potential opportunities. Stay tuned for further updates!
Moneyisjustanumber
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@Vestinda, I am investing 1 BTC on ID/BTC pair around 0.58$ , I am poised for 7000 satoshi run , its small portion of my portfolio - gambling in full.
Consider my thoughts, this is so young story to be valued around 0.30$ stable :) nothing fancy about domains on web3..