BTC conditions are a bit shaky right now, but I like this entry in MIR as a hold.
TA wise we can see a symmetrical triangle forming which is a continuation pattern, bullish divergence forming on both RSI and stoch RSI, and price consolidating relatively near the all time high during a time when most other altcoins have dropped 20-30% due to BTC.
FA wise MIR has quietly reached $1.5 billion TVL with no major shilling or hype. As a synthetic asset platform its only viable competitor is SNX which despite being well over a year old, only has one synthetic asset even available, a clunkier UI, and higher fees due to it being solely ERC-20 based. Meanwhile, MIR has all of the FAANG stocks available, multiple synthetic ETN's (USO, SPY, QQQ, SLV, IAU), and more likely to come. All in the span of 3 months.
Pools on the platform seem to be averaging 90-110% APR, and even more if you compound daily. Additionally, it's a significant part of the Terra ecosystem, which clearly has exploded in hype as LUNA significantly outperformed the market in the last month.
When TA and FA come together in the same coin during a bullrun, you buy.
As a trade, stoploss/invalidation would be a candle close within the orange box thus invalidating the bullish market structure.
TA wise we can see a symmetrical triangle forming which is a continuation pattern, bullish divergence forming on both RSI and stoch RSI, and price consolidating relatively near the all time high during a time when most other altcoins have dropped 20-30% due to BTC.
FA wise MIR has quietly reached $1.5 billion TVL with no major shilling or hype. As a synthetic asset platform its only viable competitor is SNX which despite being well over a year old, only has one synthetic asset even available, a clunkier UI, and higher fees due to it being solely ERC-20 based. Meanwhile, MIR has all of the FAANG stocks available, multiple synthetic ETN's (USO, SPY, QQQ, SLV, IAU), and more likely to come. All in the span of 3 months.
Pools on the platform seem to be averaging 90-110% APR, and even more if you compound daily. Additionally, it's a significant part of the Terra ecosystem, which clearly has exploded in hype as LUNA significantly outperformed the market in the last month.
When TA and FA come together in the same coin during a bullrun, you buy.
As a trade, stoploss/invalidation would be a candle close within the orange box thus invalidating the bullish market structure.
Comment:
Hope you bought, looking like price discovery is next