MITH/USDT recently caught my attention as I was looking for smallcaps with decent chart setups and fundamentals that align with potential breakout zones.
With a marketcap of only 80 million right now there's great potential for multiplying your money once it takes off because not a lot of money is needed to move the market and that is also what makes this a high risk - high reward trade, only invest what you can afford to lose and are willing to keep locked in the coin for a while.
Circulating supply and max supply is both 1 billion so you don't have to worry about sudden watering down of the supply or increase of marketcap without moving the price.
Right now we can see MITH sitting right on uptrend support of a big symmetrical triangle on the 4hr chart and also on support from the prior bottom which makes this area a good buy zone in my opinion but we also have to be careful about BTC potentially screwing with those plans which is why I'd recommend to slowly accumulate over time.
MITH recently merged with Corra.Finance to implement Defi and NFT's for MITH which in the current market may cause a big push and spark in interest for MITH.
Corra.Finance will go live today and the IDO for it will be on the 15th of May.
These dates coincide well with the chart setup and make me very bullish on the future of the project.
If you do not want to risk potentially getting stuck in a slow bleed and don't have the patience for a medium / longer term trade you could wait for a breakout first but in this case that would mean buying 50% higher.
No stop loss on this one for me personally due to very thin order books, too much risk of getting stopped out by a wick and then also massive slippage on top of that. Sometimes we also see patterns like this drop down first and breaking out with a slight delay so if anything I'll be adding more if that happens, I've marked the potential re-buy zone in the chart.
Best of luck and let me know what you think!
With a marketcap of only 80 million right now there's great potential for multiplying your money once it takes off because not a lot of money is needed to move the market and that is also what makes this a high risk - high reward trade, only invest what you can afford to lose and are willing to keep locked in the coin for a while.
Circulating supply and max supply is both 1 billion so you don't have to worry about sudden watering down of the supply or increase of marketcap without moving the price.
Right now we can see MITH sitting right on uptrend support of a big symmetrical triangle on the 4hr chart and also on support from the prior bottom which makes this area a good buy zone in my opinion but we also have to be careful about BTC potentially screwing with those plans which is why I'd recommend to slowly accumulate over time.
MITH recently merged with Corra.Finance to implement Defi and NFT's for MITH which in the current market may cause a big push and spark in interest for MITH.
Corra.Finance will go live today and the IDO for it will be on the 15th of May.
These dates coincide well with the chart setup and make me very bullish on the future of the project.
If you do not want to risk potentially getting stuck in a slow bleed and don't have the patience for a medium / longer term trade you could wait for a breakout first but in this case that would mean buying 50% higher.
No stop loss on this one for me personally due to very thin order books, too much risk of getting stopped out by a wick and then also massive slippage on top of that. Sometimes we also see patterns like this drop down first and breaking out with a slight delay so if anything I'll be adding more if that happens, I've marked the potential re-buy zone in the chart.
Best of luck and let me know what you think!